Wiggin and Dana Advises Lesjöfors AB in Acquisition of North American Power Spring Business of Sandvik, Inc.
Wiggin and Dana represented Lesjöfors AB, a wholly-owned subsidiary of Beijer Alma AB (NASDAQ OMX), and its U.S.-based subsidiary Lesjöfors Springs America, Inc. in the negotiation of a definitive agreement to acquire the North American power spring business of Sandvik, Inc. The acquisition will provide Lesjöfors, which manufactures and sells custom-designed springs used in a range of consumer and industrial products, the opportunity to strengthen its product offering and further expand into North and South America. The company currently operates in Sweden, Norway, Finland, Denmark, the United Kingdom, Germany, Slovakia, Latvia, Russia, China and Korea. The transaction is expected to close by December 31, 2014.
Advising Lesjöfors in the transaction were Corporate partner David B. Schaffer and Corporate associate Adam Silverman. The Wiggin team also included the following subject matter specialists: Employee Benefits and Executive Compensation partner Sherry L. Dominick and partner Karen L. Clute; International Trade Compliance partner David L. Hall, partner David A. Ring and associate Christopher S. Clay; Tax partner Peter H. Gruen; Labor Management Relations partner Peter J. Lefeber; Real Estate associate Ryan T. Sexton; and Antitrust associate Tobias F. Bannon, III.
For more information about the transaction, please see the press release issued by Lesjöfors here.