Spring manufacturer Clifford Springs has been acquired up by Lesjöfors, a subsidiary of Beijer Alma, based in Sweden.
The firm mainly supplies energiser springs to the seal and valves industry across the UK, Europe and the US from its factory in Redditch.
With high technical competence in its 17 employees, Clifford Springs sees an annual revenue of around £3m.
Clifford Springs’ CEO, John Clifford, will continue in his operational role after the acquisition.
He said: “We are pleased to welcome Lesjöfors as the new owner of Clifford Springs. As a company, we are proud of what we have achieved so far and now look forward to continuing to develop together with Lesjöfors as part of a global group.”
Bracebridge Corporate Finance advised the shareholders on the sale of 100% of the shares.
Andy Moore, Managing Director of Bracebridge Corporate Finance commented: “We are delighted with the outcome for the shareholders of Clifford Springs and to have found an excellent home for the business. Clifford Springs is a high quality specialist engineering business with great technical know how. We look forward to seeing the business go from strength to strength under Lesjofors ownership.”
Ateeq Ahmed, Katherine Ferrari Bradley, Olivia Johnson and Tahmina Hussain of Freeths in Birmingham provided legal advice to the sellers.
