JOST Werke AG (“JOST”) is a global producer of truck, trailer and agricultural components and systems, with five product brands including JOST, Rockinger, Tridec, Quicke and Edbro. The group operates from more than 30 production and sales locations worldwide and in the last financial year ended 2020, it generated global sales of €795m.
Following a review of strategic priorities, JOST decided to divest Edbro and focus on other identified opportunities in the on and off highway segments.
Edbro is a leading manufacturer of tipping cylinders and hydraulic systems serving the general haulage, construction, quarrying and mining industries. Having invented the first vehicle mounted tipping cylinder in 1916, Edbro has a rich heritage and has since built-up a reputation for innovative design and engineering.
Supported by Oaklins Germany who have known JOST for many years, Oaklins Smith & Williamson worked with JOST HQ and the management team of Edbro to identify a new partner that would support the future growth of the business and help develop its expansion plans.
Enact, whose parent company is Endless, is a UK-based private equity investor that provides transformational investment for small to medium-sized businesses.
In the UK, Philip Barker, Head of Industrials at Oaklins Smith & Williamson, led the transaction supported by Brian Livingston and Conor Pritchard and by the Oaklins team in Germany headed by Oliver Marquardt.
Tobias Schmidt, Global Head of Corporate Strategy and M&A said “Oaklins’ global reach and industry expertise, together with their technical and problem-solving skills were key to the success of this transaction. They were able to draw upon their international teams to introduce a wide pool of both strategic and financial buyers. Overall, we felt that the Enact future plans for the Edbro business were best aligned with our own objectives for the business and those of the Edbro management team.”
Philip Barker, Head of Industrials said “We are delighted to have supported JOST on this transaction and to have found a new, supportive owner. This deal reinforces Oaklins’ strong track record of successful cross border transactions, particularly in the industrials sector.”
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By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
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