Lesjöfors has signed an agreement to acquire 100 percent of the shares in Telform, a Turkish spring manufacturer. With the transaction, Lesjöfors expands its production footprint, in line with its ambition to build the leading spring, wire and flat strip component group.
Telform is a Turkish manufacturer of industrial springs to the domestic and international markets. The customer base is diversified across more than 30 countries and multiple industries such as white goods, construction, automotive, electrical and others. Through its know how and customer focus, the company has been able to grow with its existing customers over time. The company has some 140 employees.
The acquisition is well in-line with Beijer Alma’s model for value-creating acquisitions and is another step in Lesjöfors’ ambition to consolidate the market for industrial springs and marks an expansion to a new geography with growth potential.
Lesjöfors’ president, Ola Tengroth, comments: “Lesjöfors has followed Telform over a period of time and we are impressed by the company’s operations and culture, which we are convinced will fit well within Lesjöfors’ group. With the acquisition of Telform, Lesjöfors expands its production footprint and increases its low-cost manufacturing capabilities, which enables further production optimization in-line with Lesjöfors overall strategy.
“In addition, the acquisition opens a new market, which is well positioned to benefit from the trend of nearshoring, for Lesjöfors. Therefore, I am looking forward to working together with the company and its management team to continue to develop and grow Telform.”
Telform’s CEO and CFO, Buket Böke and Melis Dülger Yilmaz, add: “We are very happy that Telform from now on will be a part of a global group with extensive experience and knowledge of our industry. We appreciate Lesjöfors’ decentralised structure and are looking forward to continuing to develop the company further.”