Berks spring manufacturer acquired by Iowa-based supplier

Reading-based spring manufacturer Northeast Spring has been acquired by Iowa Spring, company officials announced.

The acquisition closed on Sept. 15, and expands Iowa Spring’s presence to five North American production locations encompassing 375,000 square feet of manufacturing space.

Iowa Spring, based in Adel, Iowa, brands itself as a precision manufacturer and global supplier of springs used in the overhead door, construction, agriculture, and recreational equipment industries.

Founded in Reading in 1989, Northeast Spring is a family-owned and operated business that supplies custom-made springs, including overhead door springs.

Northeast Spring’s operations include both its Reading, Pennsylvania headquarters as well as its Villa Rica, Ga. facility.

The acquisition resulted from mutual conversations between the companies, and was planned about 10 months ago, according to Iowa Spring President and CEO Tim Bianco.

The 25 employees currently working at Northeast Spring’s Reading facility will be retained, and Northeast Spring founder John O’Leary will remain onboard for the next three years to ensure a smooth transition, company officials said.

“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 press 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.”

Following the acquisition, 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, N.C.

The plan is to hire additional workers and expand operations at the Reading facility, first bringing the day shift up to capacity, then eventually implementing a second shift, Bianco said.

Bianco said he was proud to offer a means to continue Northeast Spring’s legacy.

“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,” Bianco said. “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.”

Bianco said Iowa Spring is unique in that it serves a diverse set of markets, which helps protect the company from drastic economic shifts.

He noted that the company focuses on providing a high-quality product, and retains multiple quality certifications, such as the International Organization for Standardization’s ISO 9001 certification.

Ensuring a quality, customer-centric product means keeping freight costs as low as possible, Bianco said.

“We have found that freight costs really drive buying decisions, so our group has several manufacturing facilities that are geographically located to serve each region, helping keep those freight costs down,” Bianco said.