JOST
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Business description
JOST is a world market-leading manufacturer of components such as fifth wheels, landing gears and kingpins for the truck and trailer industry. JOST operates globally, with 16 production facilities and numerous sales, logistics and engineering sites on every continent. The company's direct customers are truck and trailer original equipment manufacturers (OEMs) in the primary market and wholesalers in the aftermarket (accounting for more than one-third of JOST's sales).
Established in Germany in 1952, JOST has developed into a global leader with a strong presence in rapidly growing markets such as Eastern Europe, China, India, Russia and Brazil. JOST's products focus on articulated trucks and semi-trailers, where – as opposed to rigid trucks – truck and semi-trailer can be de-coupled. The articulated segment is particularly attractive due to its higher efficiency, increased flexibility, and is increasingly gaining market share.
Cinven strategy
Cinven's Industrials sector team and its German office identified JOST as an attractive company with a sustainable, market-leading position. JOST is seen as the market leader in quality, safety and innovation by clients that are increasingly focused on brands and has market shares of around 70% in key markets. The company's long-term growth is underpinned by growing demand for trucking caused by increased trade and globalisation, particularly in faster-growing economies.
In the challenging economic environment JOST is currently facing, Cinven's strategy is to enable the company to weather the economic downturn, to analyse and implement restructuring opportunities and to continue to build JOST's market position so that it will be well positioned when the business cycle turns.
