Reading-based Northeast Spring has been acquired by Iowa Spring as of Sept. 15, expanding the Adel, Iowa, company’s presence as a supplier of precision-made springs for the overhead door, construction, agriculture and recreational equipment industries worldwide.
Primarily serving the overhead door industry, Northeast Spring is a family-owned and operated business that has supplied custom-made springs for over 25 years. Its operations include both its Reading headquarters as well as its Villa Rica, Georgia, facility. The company name and management team will remain the same with founder John O’Leary remaining onboard for the next three years to ensure a successful transition.
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 expansion; and its sister company, Southern Atlantic Spring of Granite Quarry, North Carolina.
With the addition of Northeast Spring, the Iowa Spring group of companies encompasses 375,000 square feet of manufacturing space.
“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,” O’Leary said in a release. “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.”
Bianco added: “I am so proud to be able to offer a place for Northeast Spring’s legacy to continue. John O’Leary and his team have built a thriving business with an outstanding reputation.”
Paula Wolf is a freelance writer