JOST intends to significantly broaden its worldwide product portfolio through the acquisition of global hydraulics company, Hyva.
JOST World has entered into an exclusivity agreement with Unitas Capital and NWS Holdings Limited, with a view to finalising the terms of a transaction in relation to the purchase of all shares in Hyva III BV – including its direct and indirect subsidiaries worldwide.
The global company plans to add Hyva to its family of brands, with a definitive agreement expected to be signed in the fourth quarter of this year.
“We are very pleased to have entered into an exclusivity agreement for the future acquisition of Hyva,” said JOST CEO, Joachim Dürr.
“Hyva is a highly recognised brand with a strong market leading position.
“The experienced management team and highly motivated staff are respected industry experts who understand applications, markets and customers’ needs very well.”
According to Dürr, 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.
In addition, Hyva’s significant knowledge with hydraulics will support the technological development of JOST’s existing products in markets like Australia’s.
“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,” Dürr said.
Founded in 1979 and headquartered in the Netherlands, Hyva is a leading supplier of hydraulic solutions for the commercial vehicle industries.
With a global market share of more than 40 per cent, its worldwide manufacturing footprint encompasses 14 production facilities across Australia, China, India, Brazil and Europe.
Thus, JOST is convinced that the acquisition of Hyva will also unlock further potential for profitable growth.
JOST said that Hyva’s strong brand and wide customer network will effectively enable it to replicate its successful push-and-pull sales strategy.
Hyva CEO, Alex Tan, said the company recognises the intended acquisition by JOST as a significant step for Hyva.
“JOST is a respected partner in the commercial vehicle industry, and we share a commitment to developing innovative and efficient transportation, environmental, and agricultural solutions,” he said.
“This partnership provides us with the opportunity to enhance our global market position, expand our product offerings, and reach a wider range of OEMs, body builders, dealers, 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.
“My team and I are prepared to navigate this transition and look forward to growing our business and serving our customers better together.”
According to JOST, the transaction will be financed through a combination of cash, drawdowns from currently undrawn credit facilities as well as via debt acquisition financing.
In other news, significant milestones have been reached on two of South Australia’s most important transport infrastructure projects.
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