JOST has officially acquired Hyva, signing a sale and purchase agreement for all its shares, including its direct and indirect subsidiaries worldwide.
The purchased price amounts to $398 million (USD).
The acquisition of the hydraulics company will unlock further opportunities for profitable growth for the safety-critical systems manufacturers. The newly combined group post-closing will be much larger and stronger, boosting the group’s position as a global supplier for the commercial vehicle industry and further enhancing its ability to serve customers across the globe, JOST said in a statement.
The acquisition of Hyva is a significant strategic step to push JOST forward on its path to become the number one supplier for on- and off-highway commercial vehicles worldwide, said JOST CEO, Joachim Dürr.
“With Hyva, we are acquiring the global market leader for front-end tipping cylinder, expanding our product portfolio with a wide variety of smart hydraulic solutions and increasing JOST’s exposure to fast-growing off-highway markets,” he said. “Hyva complements and enhances JOST’s family of market-leading brands. Together, we are well placed to capitalise on the large infrastructure investments in India, Asia, Brazil and North America, opening up new growth fields.”
Hyva is a leading supplier of hydraulic solutions for commercial vehicles with a worldwide market share of more than 40% for front-end tipping cylinders. Founded in 1979, Hyva is headquartered in The Netherlands and sells to customers across more than 110 countries through a well-established and recognised sales and service network. With about 3,000 employees around the world, Hyva’s manufacturing footprint encompasses 14 production facilities across China, India, Brazil, Mexico, Germany and Italy, servicing the transport, agriculture, construction, mining and environmental industries.
“With JOST we have found a strong, long-term oriented industrial partner also committed to advance technology and supply customers with innovative and efficient solutions for transportation, agricultural, construction, mining and environmental commercial vehicle applications,” said Hyva CEO, Alex Tan. “Joining forces will strengthen our market position globally and expand our product offerings.”
In the last twelve months, ended June 30, 2024, Hyva generated sales of about €629 million, a gross profit margin of 23.4 per cent, an adj. EBITDA of €54 million and an adj. EBIT of €41 million. JOST is targeting a synergy potential of more than €20 million p.a. and expects the acquisition to be accretive.
In other news, Schmitz Cargobull has created a new role in UK & Ireland.
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