The acquisition also strengthens Lesjofors’s growth trajectory with the addition of new product capabilities.
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 Lesjofors’s hot coiling manufacturing capabilities to three dedicated locations across Europe and India.
Global Growth
With approximately 230 employees, the acquisition increases the Lesjofors employee base to over 2600 worldwide.
Lesjofors CEO, Ola Tengroth, said: “IIS is our first acquisition in India and with Lesjofors sites in Singapore, China and Thailand, this marks the Lesjofors 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 Lesjofors’ key customer segments, IIS not only has an attractive and diversified customer base, it’s 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.”
IIS’s CEO, Sumit Gala, 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 Lesjofors is the perfect partner for us to continue our successful development and are certain that this will benefit all our stakeholders.”
