CV safety systems manufacturer Jost has entered into an exclusivity agreement to acquire Hyva and broaden its product portfolio.

It said that it was confident that an agreement would be signed off to purchase the global market leader in hydraulic cylinders during the fourth quarter of 2024.

Jost said it was convinced the acquisition would unlock potential for profitable growth and that Hyva’s strong brand would enable it to replicate its successful ‘push-and-pull’ sales strategy.

Joachim Dürr, CEO of Jost Werke SE said: “We are very pleased to have entered into an exclusivity agreement for the future acquisition of Hyva.

“Hyva is a highly recognized 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.

“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 knowhow with hydraulics will support the technological development of Jost’s existing products.”

He added: “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.”

Hyva said the intended partnership provided an opportunity for it to enhance its market position: “Joining forces will enable quicker and more effective adoption of new digital technologies supported by enhanced joint R&D efforts for smart transportation solutions,” said Hyva CEO Alex Tan.

“My team and I are prepared to navigate this transition and look forward to growing our business and serving our customers better together.”

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