The CEO of JOST, Joachim Dürr, announced at IAA Transportation 2024 that the company has agreed to purchase Dutch hydraulics company, Hyva.
“Hyva is a highly recognised brand with a strong market leading position,” he told Global Trailer. “These capabilities strongly support JOST’s strategy to become the number one supplier for on- and off-highway commercial vehicles worldwide. The intended addition of Hyva will expand JOST’s product portfolio and offerings for customers in the transport, agriculture and infrastructure industries.”
Founded in 1979, Hyva has a global market share of more than 40 per cent and is the market leader for front-end tipping cylinders worldwide. Hyva’s global manufacturing footprint encompasses 14 production facilities across China, India, Brazil and Europe, servicing the transport, agriculture, construction, mining and environmental industries.
Dürr expects Hyva’s strong brand will enable JOST to replicate its successful push-and-pull sales strategy. Its broad product portfolio and wide customer network of blue-chip OEMs, body builders, dealers and end-users will complement and expand JOST’s offerings and strengthen the group’s position as a global supplier for the commercial vehicle industry.
“Together, both companies will benefit from a wider regional sales and production network, transforming into an even stronger industry champion and becoming a more attractive business partner for all our customers worldwide,” he said.
For Hyva, the opportunity means enhancing its own global market position and reaching an even wider range of OEMs, body builders and customers.
“Joining forces will enable quicker and more effective adoption of new digital technologies supported by enhanced joint R&D efforts for smart transportation solutions,” said Hyva CEO, Alex Tan. “My team and I are prepared to navigate this transition and look forward to growing our business and serving our customers better together.”
In the last twelve months, ended 30 June, 2024, Hyva generated sales of about €624 million, a gross profit margin of 23.4 per cent and an adjusted earnings before interest and tax of € 41 million. Within two years of the transaction being completed, Hyva’s profitability is expected to improve to the margin range of 10 to 12 percent targeted by Jost. The Jost management board expects synergy potential of more than € 20 million per year.
In other news, DSV has signed an agreement to acquire Schenker from Deutsche Bahn.