Germany – This month saw CV chassis components and systems supplier, JOST Werke SE (JOST) of Neu-Isenburg, Germany sign an agreement to sell the Hyva global cranes business (acquired in February this year with the Hyva Group) to German private equity investor, Mutares SE & Co. KGaA (Mutares*). The sale of Hyva’s global cranes business, which is stated as having sales revenue of around EUR 100 million, is expected to be concluded in the fourth quarter of 2025. JOST added it would fulfil ongoing projects related to the cranes business and would work closely with Mutares to achieve a seamless transition and customer experience.

JOST explained that the decision to sell the Hyva global cranes business was after a full review of the entire Hyva portfolio and subsequently identifying the cranes business as non-core for its growth strategy.

Joachim Dürr, CEO of JOST Werke SE, commenting on the sale said:

I am very pleased with the progress of the post-merger integration between Hyva and JOST. The swift execution of the crane’s divestment will allow us to focus even more on new growth opportunities for our core business and raising the identified synergies to achieve our AMBITION 2030 targets for profitable growth.

A statement explaining the accounting procedures at JOST and impact the sale of Hyva global cranes business on the JOST business in the future, it said:

JOST has classified the cranes business as “assets held for sale” in accordance with IFRS 5 with effect from February 1, 2025. Accordingly, the revenues and results of the cranes business will be reported as “discontinued operations” with effect from February 1, 2025. The expected development of the aggregated sales revenue and adjusted EBIT from continued and discontinued operations for the 2025 fiscal year is not affected by this reclassification, subject to the timing of the transaction’s closing. Sales revenue from continued operations (i.e. excluding the cranes business) is expected to grow by 40% to 50% year-on-year in fiscal year 2025, compared to the prior fiscal year (2024: EUR1,069m) and adjusted EBIT from continued operations (i.e. excluding cranes business) is expected to increase in 2025 by 23% to 28% compared with the previous fiscal year (2024: EUR113m).

Johannes Laumann, CIO of Mutares, commenting on the future of Hyva global cranes, said:

The crane business unit of Hyva is a very promising new platform for our Goods & Services segment with a globally recognized brand in truck-mounted cranes. The business presents a turnaround and carve-out opportunity due to recent financial underperformance and operational inefficiencies. With our proven expertise in carve-outs and restructuring, we aim to restore profitability and drive sustainable growth. With a hands-on approach and long-term investment strategy, we see the company as a valuable addition to the Mutares portfolio.

*About Mutares - Mutares SE & Co. KGaA, Munich, Germany (www.mutares.com), a listed private equity holding company with offices in Munich (HQ), Amsterdam, Bad Wiessee, Chicago, Frankfurt, Helsinki, London, Madrid, Milan, Mumbai, Paris, Shanghai, Stockholm, Vienna and Warsaw, acquires companies in special situations which show significant operational improvement potential and are sold again after undergoing a repositioning and stabilization process.