September 22, 2022
Translink Corporate Finance in Turkey (Anafina Capital Partners) and Sweden (Anecta), advised Lesjöfors, a portfolio company of Beijer Alma, who 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. The transaction is expected to close in the fourth quarter of 2022.
Lesjöfors is Beijer Alma’s largest company, which has grown significantly over the years primarily through international acquisitions. Lesjöfors manufactures springs, wire and flat strip components, and has been a part of the Group since 1992. They are a full-range supplier that offers both standard products and custom-manufactured components. Lesjöfors is the largest spring manufacture in the Nordic region and a leader in Europe.
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 c. 140 employees and generates revenues of about EUR 11 million per annum with favourable profitability.
The acquisition is 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 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 will well within Lesjöfors’ group. With the acquisition of Telform, Lesjöfors expands its production footprint and low-cost manufacturing capabilities, which enables further production optimisation in-line with Lesjöfors’ overall strategy. In addition, the acquisition gives Lesjöfors access to a new market that is well positioned to benefit from increased nearshoring. Therefore, I am looking forward to working together with the company and its management team to continue to develop and grow Telform,” said Ola Tengroth, President at Lesjöfors.
Contact our Team Members advising in this transaction:
Anafina Capital Partners is the member firm of Translink Corporate Finance in Turkey. With its seasoned finance and operational teams, Anafina provides boutique M&A and strategic management consulting services for local and international clients in need of buy-side advisory, sell-side advisory, Turkey entrance strategy, sector analysis and operational & financial due-diligence while running business excellence initiatives in parallel.
Anecta Translink, our partner in Sweden, is a M&A advisor working with national and cross-border transactions. The company’s success in this segment is based on a wide industrial network and the fact that many of the team members have backgrounds as executives in Swedish industrials.