Lesjöfors divests S&P Federnwerk GmbH

Lesjöfors has today entered into an agreement to divest 100 percent of its shares in S&P Federnwerk GmbH.

S&P Federnwerk GmbH is a German spring manufacturer whose customers are mainly active in the automotive and agricultural industries. The company has been part of Lesjöfors since 2013 and generated sales of approximately MSEK 110 in 2020 with about 60 employees. The decision to divest S&P was made following an evaluation of various strategic alternatives for the company, as its profitability has been unsatisfactory for Lesjöfors. In connection with the divestment, a non-cash impairment expense of about MSEK 60 will be charged to Lesjöfors’ earnings for the third quarter, during which the transaction is expected to close.

Ola Tengroth, President of Lesjöfors, comments on the decision to divest the company: “Divesting a company is an exception in our operation. We have made several acquisitions in recent years which, in most cases, have strengthened the group and contributed with attractive profitability. The decision to divest S&P follows a careful evaluation and is based on the fact that S&P has limited synergies with our other companies. We are convinced that S&P will have a favorable development with its new owners.”

Ola Tengroth

CEO
+46 70 679 88 04
ola.tengroth@lesjoforsab.com

The Lesjöfors Group provides the widest range of springs and pressings to customers in diverse industries across the world. With a unique expertise in high technological, custom-made solutions and a flexible manufacturing capacity, Lesjöfors is the premier partner for all spring requirements. Lesjöfors, owned by Beijer Alma a listed company on the Stockholm Stock Exchange, comprises almost 40 manufacturing and sales companies in many countries. As a long-term and committed spring innovator, the Group continuously grows with a good profitability, both organically and by acquisitions.

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