Cision PR Newswire
Iowa Spring Expands Manufacturing Capability Through Acquisition of Northeast Spring
News provided byIowa Spring
Sep 18, 2023, 8:00 AM ET
ADEL, Iowa and READING, Pa., Sept. 18, 2023 /PRNewswire/ -- Iowa Spring announced today that it has acquired Northeast Spring of Reading, Pennsylvania.
The acquisition of Northeast Spring closed on September 15, 2023, and expands Iowa Spring's growing presence as the premier supplier of precision-made springs for the overhead door, construction, agriculture, and recreational equipment industries across the globe.
Northeast Spring is a family-owned and operated business that has supplied high-quality, custom-made springs for over 25 years. Primarily serving the overhead door industry, Northeast Spring operations include both its Reading, Pennsylvania headquarters as well as its Villa Rica, Georgia facility. The company name and management team will remain intact with founder John O'Leary remaining onboard for the next three years to ensure a smooth transition.
"Our team has worked tirelessly for more than two decades to build a highly respected company that is focused on family values, quality and integrity," said O'Leary. "With so many spring companies being acquired by large private equity groups, it was essential to me to find a like-minded buyer that could be trusted to keep our team intact and who could uphold our company's legacy and reputation. Iowa Spring is a perfect match, and I am confident in knowing that Northeast Spring will be in good, capable hands moving forward."
Following the acquisition, Iowa Spring President & CEO Tim Bianco will oversee operations of Northeast Spring in addition to its three existing facilities: the original Iowa Spring facility, its recent 55,000 square foot nearby expansion facility, and its sister company Southern Atlantic Spring of Granite Quarry, North Carolina.
"I am so proud to be able to offer a place for Northeast Spring's legacy to continue" said Bianco. "John O'Leary and his team have built a thriving business with an outstanding reputation. The Iowa Spring team is excited to welcome Northeast Spring to our family. As a group of like-minded companies, this acquisition represents the opportunity to offer our customers additional capacity and locations to better serve their needs. "With an ethos of family, high quality, and customer satisfaction, we look forward to leveraging our newly expanded group's capabilities to best serve the overhead door and other target markets."
The companies' combined capabilities will position the Iowa Spring group to provide a wide depth and breadth of high quality, custom manufactured springs while maintaining a "customer-centric" focus.
About Iowa Spring
In operation for over 45 years, Iowa Spring is a precision manufacturer of springs used in the overhead door, construction, agriculture, and recreational equipment industries. Iowa Spring is proudly owned and operated by its original founders, with two locations based in Adel, Iowa. The group also owns a sister company, Southern Atlantic Spring of Granite Quarry, North Carolina. With the addition of Northeast Spring, the Iowa Spring group of companies now span five North American production locations encompassing 375,000 square feet of manufacturing space.
For more information about Iowa Spring, visit www.iowaspring.com
About Northeast Spring
Northeast Spring is a manufacturer of high-quality custom springs, including overhead door springs for OEMs, direct use manufacturers and suppliers worldwide. Northeast Spring is headquartered in Reading, Pennsylvania, with an additional manufacturing facility in Villa Rica, Georgia. For more information on Northeast Spring, visit www.nespring.com.
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SOURCE Iowa Spring
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