Lesjöfors has signed an agreement to acquire the assets and operations of John Evans’ Sons INC, a leading US spring manufacturer.
With the acquisition, Lesjöfors strengthens its US presence and significantly increases its sales to the medical industry, in line with its ambition to build the leading spring, wire and flat strip component group.
John Evans’ Sons is the oldest spring maker in the US, founded in 1850, and has a leading position on the US market. The company has a diversified customer base with long customer relationships, attributable to its expertise and ability to support customers early on in their product development projects. Revenue mainly stems from customers within the medical industry but also from customers within the industrial, construction, aerospace and transportation industries. The production facility is located in Lansdale, Pennsylvania, and the company has 72 employees.
Similar to Lesjöfors, John Evans’ Sons has close customer relationships, high technical expertise and strong emphasis on tailored solutions. Through the acquisition, Lesjöfors strengthens its position within the medical segment and builds further scale in the US. The acquisition also enables other opportunities for profitable growth, such as purchasing coordination, cross-selling, resource/knowledge sharing with Lesjöfors’ other US companies.
Lesjöfors’ president, Ola Tengroth, comments: “Through this acquisition, we increase our market share in the US significantly by more than doubling revenue in the region. John Evans’ Sons has a long, successful, history and we are excited about what we can achieve together. In addition to a well-matched corporate culture, John Evans’ Sons will strengthen Lesjöfors in the US and enables multiple value creating avenues for Lesjöfors at the same time as John Evan’s Sons can benefit from Lesjöfors’ expertise and footprint. Thus, we are convinced that the companies will strengthen each other going forward.”
Sam Davey and Pate Banmiller, John Evans’ Sons’ current owners and co-presidents will remain in their operational roles to continue to develop the business. In line with Lesjöfors’ decentralised organisation, the company will continue to operate under its own brand and management.
John Evans’ Son’s co-presidents, Sam Davey and Pate Banmiller, add: “We are extremely thankful to our two prior family generations who successfully ran America’s oldest spring maker before us, starting in 1967. Since joining the business in the late 1990s, we have cultivated relationships with our world-class customers and been the recipients of exceptional raw materials and services from our vendors. Far and away, the biggest contribution to the company’s success has come from our talented workforce and their ongoing pursuit of technical and manufacturing excellence.”