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Lesjöfors acquires Velleuer Springs and Pressings in Germany
Lesjöfors AB is a Swedish company with springs, pressing and gas springs as its core business. Lesjöfors AB is one of the largest spring companies in Europe with the widest range of products in the market. The group has a turnover of about 140 Million Euro with about 800 employees. Lesjöfors AB has operation in Sweden, Finland, Norway, Denmark, England, Germany, Latvia, Russia, Korea and China.
Velleuer GmbH & Co. KG has a turnover of about 13 Million euro with about 110 employees. The company was founded 1905 and has been owned by the same family since then. The company has a wide range of technologies involving compression springs, tension springs, wire forms, high speed pressings and multislide technologies.
With this investment Lesjöfors AB will strengthen its position on the German market and become one of the biggest suppliers of springs and pressings with a total turnover in Germany of about 30 Million Euro.
The Velleuer GmbH & Co. KG will continue to operate as an independent company with the same management as per now. Synergies will come via Lesjöfors AB having access to local production in Germany and via Velleuer GmbH & Co. KG utilising the total range of products and the sales organizations available in the Lesjöfors AB group.
The Velleuer family is pleased to place the company within a strong spring manufacturing group whose target is to further develop the operation.
Kjell-Arne Lindbäck, CEO of Lesjöfors AB says: “The acquisition of the Velleuer GmbH & Co. KG spring company is a milestone for Lesjöfors AB who have been looking for an acquisition in the German market for many years. This company has very good management and staff and it fits perfectly with the strategy of Lesjöfors AB to establish local manufacturing on the main markets where we are operating”.
Rainer Müller, CEO of Velleuer GmbH & Co. KG: “ We feel that Velleuer GmbH & Co. KG has become a member of a very strong group with focus on our core business. This will enable us to further grow our business and it will also give access to more opportunities via utilization of the Lesjöfors AB sales organization and its even wider product range. We all look forward to this new situation and the opportunities it will create.”
DP
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