The ownership of LH Lift Oy has transferred from the Viikki family to the international company JOST . JOST is a leading global producer and supplier of safety-critical systems for commercial vehicles, including couplings, axles and front loaders. Under the umbrella brand of JOST, the comprehensive range of products is broken down into systems for applications on the road and in agriculture with four strong products brands: JOST, TRIDEC, ROCKINGER and Quicke.
At the same time as acquiring LH Lift, JOST also acquired the Brazilian company Crenlo do Brasil, which manufactures implements and cabs for agricultural machines.
“LH Lift Oy has grown and expanded internationally in recent years. Our new owner will provide even more resources for growth and internationalisation. LH Lift’s employment relationships and customer relations will continue as before,” said CEO Kari Piltonen.
LH Lift Oy was founded by Paavo Viikki in Laukaa, Finland, in 1975. Initially operating under the name Laukaan Hitsaustyö, the company manufactured rear hitches for Valmet tractors. Over the decades, the product range has expanded to include other tractor coupling devices, and in addition to Valtra, customers now include many other tractor manufacturers such as John Deere and Massey Ferguson. LH Lift’s customers are tractor factories in Europe, Asia and South America. In addition to Laukaa, LH Lift also has a factory in Ningbo, China.
After the death of company founder Paavo Viikki, the ownership of LH Lift Oy has remained in the hands of his descendants and relatives. Following the transaction, ownership will be transferred to JOST Werke SE, which is headquartered in Neu-Isenburg, Germany. JOST Werke SE’s turnover in 2022 was more than EUR 1.2 billion and it had more than 3600 employees in different parts of the world. LH Lift Oy’s turnover in the corresponding period was approximately EUR 9 million and it has 41 employees.
With the help of both LH Lift and Crenlo do Brasil, JOST is expanding its product range and geographical coverage. The expected additional sales contribution of LH Lift and Crenlo do Brasil for fiscal year 2023 is expected to be approximately EUR 100 million, and the price of the acquisitions is EUR 56 million.
Further information: www.jost-world.com