Sweden Lesjöfors Company Purchases Telform
December 2022

Telform Kelepçe ve Yay Sanayi Ticaret A.Ş., Turkey's leading spring and clamp manufacturing company, is about the acquisition of 100% of its shares by Lesjöfors AB, one of the largest spring manufacturers in Europe, affiliated to the Sweden-based Beijer Alma AB group, signed the Purchase Agreement.

 The Turkish automotive industry is one of the sectors that foreign companies show the most interest in.  Turkish companies, which produce in many areas from seat production to accessories, are bought by their foreign competitors and form partnerships.

A new one has been added to these companies.  Lesjöfors, one of Sweden's oldest companies, with which Turkey has been in dispute over NATO membership for a long time and with which it has been negotiating, has decided to strengthen its network in Turkey with production.

Swedish Lesjöfors bought 100 percent of Telform, one of the most important clamp and spring manufacturers in both Turkey and Europe.  Thus, after 4 years, the second important automotive supplier industry investment from Sweden to Turkey was realized.

Founded in 1675, has 1,900 employees
The history of Lesjöfors Group, one of the oldest companies in Scandinavian geography, dates back to the second half of the 17th century.  Founded in 1675, the Swedish company entered the industrial sector in 1852 with the production of springs.

Lesjöfors, one of the world's oldest manufacturers of spring and strip components, experienced a major crisis in the 1980s.  The company, which started to experience disruptions in its payments in 1982, entered the bankruptcy process in 1985.

Shares of Lesjöfors were acquired by another group, Beijer Alma, which was traded on the Stockholm Stock Exchange in 1989.  Lesjöfors has approximately 1,900 employees and 33 production facilities in different geographies.  Beijer Alma, owner of Lesjöfors, has a turnover of approximately $2.5 billion.

Established in 1996 to supply hose clamps and springs to the white goods and automotive industries, Telform carries out production at its facility in Gebze Plastikçiler Organized Industrial Zone.  Today, Telform has more than 130 customer locations in 30 countries and has 140 employees.  Telform's annual revenue is 11 million Euros, which is over 210 million TL at today's exchange rates.  Making a statement about the acquisition, Ola Tengroth, Chairman of the Board of Lesjöfors, said, “We have been following Telform for a while.  We have been very impressed with the operational network and culture that we believe will fit well into the Lesjöfors Group.  With the acquisition of Telform, we are expanding Lesjöfors' production footprint and increasing our low-cost manufacturing capabilities.  In addition, the doors of a new market are opening to Lesjöfors with Telform.  That's why we look forward to working with the Telform management team to continue developing and growing Telform."

Telform COO Buket Küçükşener Böke and CFO Melis Dülger Yılmaz said: “We are very happy that Telform is part of a global group that has extensive experience and knowledge about our industry.  With the group's decentralized management approach, we will continue to strengthen our activities at our current location and increase customer satisfaction with our current management team and customer representatives, without a change in our organizational structure.  We look forward to further developing our company and the Telform brand together with Lesjöfors.”

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