JOST Werke completed the acquisition of Alo Holdings from Altor Equity Partners £229m.

JOST Werke, a global producer and supplier of safety-critical systems for the commercial vehicle industry, completed the acquisition of 100% stake in Alo Holdings, supplier of the agricultural machinery industry, for £229m. "In the second quarter we had to prove the flexibility of our business model. The rapid spread of the coronavirus pandemic strained our market environment and our business worldwide. Especially North America and Europe were severely impacted by the pandemic, but we also had to cope with restrictive lockdowns and plant closures in Asia-Pacific-Afrika," Joachim Dürr, JOST Werke CEO.