Beijer Alma’s subsidiary Lesjöfors divests Stumpp & Schüle GmbH
Lesjöfors has today divested 100 per cent of the shares in Stumpp & Schüle GmbH and its Slovakian subsidiary Stumpp & Schüle s.r.o..
Stumpp & Schüle is a spring manufacturer with presence in Germany and Slovakia, whose customers are mainly active in the automotive industry. The company has a turnover of approximately SEK 200 million in 2023 with approximately 140 employees. The decision to divest Stumpp & Schüle has been made after an evaluation of various strategic alternatives for the company as its profitability has not been satisfactory for Lesjöfors. In addition to the previously communicated cost for a restructuring project in central Europe, a non-cash impairment expense of approximately SEK 100 million will be charged to Lesjöfors’ earnings for the fourth quarter following the divestment.
Ola Tengroth, President of Lesjöfors, comments on the decision to divest the company, ”Divesting a company is an exception in our operation. We have made several acquisitions in recent years which have strengthened the group. The decision to divest Stumpp & Schüle follows a careful evaluation and is based on the fact that Stumpp & Schüle’s profile is not in line with our strategic priorities and has limited synergies with our other companies. We are convinced that Stumpp & Schüle will have a favourable development with its new owners.”