ADEL, Iowa, and READING, Pa. — Iowa Spring announced Monday that it has acquired Northeast Spring.
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 and 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.
