Lesjöfors Group: Aquisition of International Industrial Springs

Lesjöfors Group has announced the acquisition of International Industrial Springs (IIS), a move that marks the Swedish-based spring and pressing manufacturer’s first expansion into India. The acquisition broadens Lesjöfors’ global presence and enhances its product portfolio.

IIS operates six production plants in the Mumbai region, specializing in disc springs, washers, and general springs. The company serves a range of industries, including valve manufacturing, energy, engineering, and aerospace. With the acquisition, Lesjöfors also extends its hot coiling manufacturing capabilities, adding to its existing facilities in Europe and India.

The transaction adds approximately 230 employees to Lesjöfors’ workforce, bringing its total number of employees to over 2,600 worldwide. IIS currently generates an annual revenue of EUR 8.5 million.

Ola Tengroth, CEO of Lesjöfors, highlighted the significance of the acquisition, stating, “This marks our first entry into India and our fourth in the Asia-Pacific region, which is the largest spring market globally. IIS has demonstrated strong performance and has an established position in key customer segments. Its product offerings will enhance our portfolio, particularly in the disc spring segment.”

Following the acquisition, IIS CEO Sumit Gala will continue in his operational role and retain a minority ownership stake. He expressed confidence in the transition, stating, “My family and I are proud of what we have built, and we appreciate the contributions of our employees, partners, and customers. We view this as a natural next step for IIS and believe that Lesjöfors is the right partner for our continued growth.”

Through this transaction, Lesjöfors has acquired a 51 percent stake in International Springs and Stampings Private Limited. The acquisition is expected to be finalized in the first quarter of 2025.

Source: Lesjöfors, Photo: Fotolia