Equity firm to acquire Jost Group
Jul 3, 2008 11:43 AM
The Jost Group, the parent company of Jost International, is being acquired by Cinven, an international private equity firm.
Jost International markets trailer components such as fifthwheels, kingpins, and landing gear in the United States, Canada and Mexico. The Jost Group is active in all continents. Its brands include Jost, Rockinger, Regensburger, and Tridec.
Jost employs approximately 2,000 people in 20 countries. According to Cinven, Jost has grown significantly faster than the market over the past five years and has been able to increase annual sales at double digit rates on average to around €445 million in 2007.
“Demand for trucks will continue to grow due to strong economic growth in Eastern Europe and Asia,” said Bruno Schick, principal at Cinven Germany. “We are delighted to have acquired Jost. We will support the strategy of the management team and we will invest in growth, geographic expansion, product extension and the further strengthening of its market leadership.”
The transaction is subject to regulatory clearance.
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