JOST Werke SE Signs Agreement to Acquire Hyva

On October 14, 2024, JOST Werke SE, a prominent global producer of safety-critical systems for commercial vehicles, announced the signing of a sale and purchase agreement to acquire Hyva. Hyva is a leading supplier of hydraulic solutions with a market share exceeding 40% in front-end tipping cylinders. Headquartered in the Netherlands, Hyva operates in over 110 countries with approximately 3,000 employees and 14 production facilities globally.

In the year ending June 30, 2024, Hyva reported sales of EUR 629 million and an adjusted EBITDA of EUR 54 million. JOST aims to leverage synergies of over EUR 20 million annually. The purchase price of USD 398 million represents an EV/EBITDA multiple of 6.7x, potentially decreasing to less than 4.9x post-synergies.

The acquisition, subject to antitrust approval, is expected to close by early 2025, significantly impacting JOST's profitability and positioning.