Tempered Spring acquisition shows Sheffield open for business

MORE than 60 jobs have been safeguarded following the acquisition of Sheffield-based manufacturer Tempered Spring Company.

The firm, which manufacturers bespoke springs, has been bought by Andrew Eyre and Andrew England – both shareholders in Opportunity Group Holdings (OGH) – for an undisclosed sum.

The deal will compliment OGH’s existing portfolio of companies including Sheffield manufacturing businesses Seal Engineering, Locum Fine Steels, Turton Springs and innovative IT business Lanserve UK.

Advisers to the acquisition were law firm Irwin Mitchell and Strategic Corporate Finance while funding was provided by Royal Bank of Scotland (RBS) Invoice Finance and Lombard North Central.

James Bullock, a partner in the corporate team at Irwin Mitchell’s Sheffield office said: “Despite the current climate this deal shows that Sheffield is very much open for business and that investment is available to support the growth of local enterprise.

“The acquisition of Tempered Spring provides the group with a solid base for further growth.”

Kevan Shaw of Sheffield-based corporate dealmakers Strategic Corporate Finance added: “Tempered Springs is an excellent fit with other operations under their ownership and the acquisition means that a long established Yorkshire business will continue to thrive, benefiting from connections with the businesses within Opportunity Group.”

Tempered Spring, which can trace its roots back to 1895, also trades as Tempered Tools.

It will retain its name following the acquisition and will have a new board consisting of Mr Eyre, Mr England and Malcolm Brand.