Sale of LH Lift to JOST Werke SE
3J Partners acted as financial advisor to the sellers
in an transaction involving the sale of the family-owned LH Lift to JOST Werke, a German manufacturer of safety-related systems for commercial vehicles. As a result of the transaction, 90 employees will transfer to JOST in Kuusaa, Finland and Ningbo, China:
“The acquisition will enable us to create more value for our customers and further strengthen our position in the tractor coupling markets. Together with JOST we can continue to offer our customers high-quality products and services and gain more resources for expanding to international markets”, comments LH Lift’s owner Eero Viikki.
JOST also acquired Brazilian agricultural machinery company Crenlo do Brasil at the same time with LH Lift:
“The acquisition of Crenlo do Brasil and LH Lift are key steps towards JOST’s strategic expansion in the agricultural machinery market. With these acquisitions and our investments into a new factory in Chennai, India, we significantly expand our global presence in South America and Asia and strengthen our market position in Europe. At the same time, we expand our product portfolio with new products with a significant growth potential worldwide. The two acquisitions will initially increase JOST’s consolidated sales by about EUR 100 million and bring additional opportunities to rapidly grow our off-highway business with new emerging cross-selling opportunities. Together, we will transform JOST into an even more attractive partner for agricultural OEMs, able to provide and service customers with a wide range of innovative products and systems worldwide, thus reducing the complexity of supply chains for our global customers.”, JOST Werke SE CEO Joachim Dürr comments on their press release.
LH Lift Oy
The family-owned LH Lift Oy manufactures tractor coupling equipment for the world’s best-known tractor brands in Kuusaa, Finland and Ningbo, China. LH Lift’s products are used in tractors like Valtra, John Deere and Massey Ferguson, among others. The company employs a total of 90 people and has been owned by the Viikki family since its establishment in 1975.
JOST Werke SE
JOST is a leading global manufacturer of safety-related systems for the commercial vehicle industry. The company’s brands include JOST, ROCKINGER, TRIDEC and Quicke. JOST has sales and production facilities in 26 countries and employs approximately 3,600 people worldwide. JOST Werke SE is listed on the Frankfurt Stock Exchange.
Lue lisää aiheesta:
JOST Werke SE press: “JOST expands regional reach and enhances product portfolio in Agriculture with two strategic purchases”
