German materials handling equipment manufacturing giant Jungheinrich, has completed the sale of its Russian subsidiary, Jungheinrich Lift Truck OOO, ending its business activities in the country.

Moscow-based private equity firm Insight Investments, acquired the 100% stake in Jungheinrich’s Russian assets for an undisclosed sum.

In a short statement on its website, Jungheinrich confirmed the sale.

“Jungheinrich has successfully completed the sale of its Russian subsidiary Jungheinrich Lift Truck OOO to a Russian financial investor and asset manager,” it states. 

“The company had already announced the signing of the agreement in its ad hoc announcement on July 21, 2025. 

“With the completion of the sale, Jungheinrich is ending its activities in Russia.”

Information services group Interfax, says the Unified State Register of Legal Entities shows the deal was closed on February 12.

“The press service of the Russian leasing company confirmed to Interfax that the transaction had taken place, noting that the acquired company has been renamed Forklift Technology (FT),” the outlet says.

Interfax, which has been following the sale, says at the end June 2025, Jungheinrich stated on its website it was conducting negotiations on the sale of the Russian business with three Russian investors. 

“The company's assets under the discussed deal were valued significantly below the book value at the end of 2024, it said,” Interfax continues.

“For the deal to be approved by the Russian government commission for controlling foreign investments, the price of the German company's local business was not to exceed 40% of the market value determined by a Russian appraiser.”

Jungheinrich’s Russian subsidiary had been distributing stackers, reach trucks, order pickers, loaders and other materials handling equipment and started promoting its own sub-brand Jhlift.

“[The subsidiary] has begun cooperating with the Chinese manufacturer of lifting and loading equipment, Hangcha, since 2023, and through this has replaced the main line of products sold on the Russian market,” the outlet adds.