Lesjöfors has signed an agreement to acquire the German spring manufacturer Stumpp+Schüle GmbH from Paragon Partners. Transfer of control will take place as soon as possible, but not later than June 1, 2012. Stump+Schüle, which manufacture springs and flat strip components, is based in Beuren near Stuttgart and also conducts manufacturing in Slovakia through a wholly owned subsidiary.
Lesjöfors is one of Europe’s largest spring manufacturers and has the markets broadest product offering. In 2011, the company generated sales of SEK 1.4 billion and the company has 1,000 employees. Lesjöfors conducts operations in Sweden, Norway, Finland, Denmark, the UK, Germany, Latvia, Russia, China and South Korea.
The Stumpp+Schüle Group generate sales corresponding to around SEK 200 M and has 230 employees. The company’s customers are in the automotive and engineering industries. Some 60 percent of sales are generated in Germany.
The acquisition strengthens Lesjöfors’ position in Germany, which is by far the largest spring market in Europe. Lesjöfors will be one of the largest suppliers of springs in Germany with sales of about SEK 500 M. Lesjöfors already conducts manufacturing operations in the Ruhr area, and this acquisition will also establish the company in the heavily industrialized region around Stuttgart. For Stumpp+Schüle, the acquisition provides access to additional products and markets through Lesjöfors’ other companies, of which China is particularly attractive.
Kjell-Arne Lindbäck, CEO of Lesjöfors, says,”This is a key strategic acquisition. We strive for strong market positions in selected markets. Germany is Europe’s largest spring market and this acquisition enables us to strengthen our position there. Furthermore, acquiring access to low-cost manufacturing in another country close to Germany is an additional benefit.”
Johann Klinger CEO of the Stumpp+Schule group says;”I am very pleased that we become a member of the Lesjöfors group who is a specialized spring and pressing manufacturer with a wide market presence. I feel that this will strengthen the Stumpp + Schule group and give additional opportunities with existing and new customers. It will also give us good opportunities for cooperation and benchmarking with our new colleagues to develop our operation further.”
Lesjöfors is one of the leading spring suppliers with internationally well known customers. The products are demanded in many markets, in diverse industries. The assortment of springs (e.g. compression springs), stampings and pressings has a unique range, where one of the largest selections of standard springs are combined with high-tech, customized solutions.
Lesjöfors has both manufacturing and sales offices in several European countries and China.