Cinven, an international private equity firm, has reached an agreement to acquire German truck supplier JOST group. The purchase price is undisclosed. The management team leading JOST will remain unchanged after the acquisition, as will the contact persons for worldwide customers.
JOST is a global manufacturer of systems, modules, and components for the truck industry, including fifthwheels, towing hitches, landing gears, drawbars, and articulated steering systems. It has about 2,000 employees in 20 nations and has been able to increase annual sales at double-digit rates on average to around 445 million Euros in 2007.