The
Lesjöfors Group has signed an agreement to acquire India-based
International Industrial Springs (IIS), increasing the global footprint of the Swedish headquartered spring and pressing manufacturer with its first acquisition in India. The acquisition also strengthens the Lesjöfors Group’s growth trajectory with the addition of new product capabilities, building on Lesjöfors’ recognition of having the widest product portfolio in the industry.
Operating from six production plants across the Mumbai region, specialising in disc springs, washers and general springs, IIS serves a variety of domestic and international industries across the valve, energy, engineering and aerospace sector.
In addition, IIS also offers hot coiling capabilities, extending Lesjöfors’ hot coiling manufacturing capabilities to three dedicated locations across Europe and India. With approximately 230 employees, the acquisition increases the Lesjöfors employee base to over 2,600 worldwide. IIS has an annual revenue of 8.5 million euros.
Lesjöfors CEO, Ola Tengroth, said: “IIS is our first acquisition in India and with Lesjöfors sites in Singapore, China and Thailand, and this marks the Lesjöfors Group’s fourth entry into the Asia Pacific region, the largest spring region in the world.
“IIS is a company with a strong entrepreneurial spirit, and it has shown impressive performances in recent years. With an established position across several of Lesjöfors’ key customer segments, IIS not only has an attractive and diversified customer base, its products also enhance our product portfolio, by strengthening our disc spring offering. We look forward to continuing to develop the company in the coming years.”
Sumit Gala, IIS’s CEO, will continue in his operational role after the acquisition and remain a minority owner. He concluded: “My family and I are proud of the company we have built, and we want to thank our employees, partners and customers. We see this as a natural next step for IIS and are happy that we have found a solid and long-term home for our company. We believe Lesjöfors is the perfect partner for us to continue our successful development and are certain that this will benefit all our stakeholders.”
Through the transaction, Lesjöfors has acquired 51% of the shares in International Springs and Stampings Private Ltd with closing taking place in the first quarter of 2025.