Lesjöfors has signed an agreement to acquire 100% 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 Kelepçe ve Yay San Tic AŞ 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 approximately 140 employees and generates revenues of about €11 million per annum – with favourable profitability.
The acquisition is well in-line with Beijer Alma’s (Lesjöfors’ parent company) 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.
Ola Tengroth, president at Lesjöfors, comments on the acquisition: “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 optimisation 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.”
Buket Böke and Melis Dülger Yilmaz, CEO and CFO at Telform, added: “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.”
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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