IAA Transportation 2024: JOST CEO announces plans for Hyva takeover at the IAA
By Luke Willetts - 30th September 2024
Joachim Dürr CEO of JOST Werke SE
Germany / Netherlands – Joachim Dürr, the CEO of German truck and trailer components company, JOST Werke SE used the IAA Transportation 2024 event to announce plans to acquire Dutch hydraulic crane and hook-loader specialist, Hyva Holding BV of Alphen aan den Rijn. The two companies have signed an exclusivity agreement with the deal expected to be finalised by late 2024. This acquisition will enhance JOST's portfolio, particularly in hydraulic systems used in transport, agriculture, and infrastructure industries.
Hyva is a leading supplier of hydraulic solutions for commercial vehicle industries, with a global market share of over 40% in front-end tipping cylinders. The acquisition will provide JOST access to a wider customer base and stronger technological capabilities. In a statement, JOST said that it expects annual synergies of more than EUR 20 million from the acquisition and the transaction will be financed through a combination of cash, credit facilities and debt acquisition financing.
