Tadiran expands to buy IMI Group for NIS 100 millionHas signed agreements for the purchase of 70% of the shares of the IMI Tin Group, which includes the Israel Electric Corporation (Ta’as) and the Industrial Development Company
The importer of electrical products Tadiran Holdings, which also operates in the field of energy efficiency, is expanding its activity to the field of industrial integration. The company reported today that it has signed agreements to acquire 70% of the shares of the IMI Group, which includes Israel Electric Corporation (Ta’as), Ashkelon and D & D Clean Rooms, for NIS 100 million.he acquired companies, with a combined annual sales turnover of NIS 150 million, are engaged in air conditioning and air handling in the industrial and commercial sectors. Tadiran shares(12,830 + 0.23%)Responded to an increase of about 7%, completing a 41% jump in the past year. The company’s market value crossed the NIS 1 billion threshold.The shares of the controlling interest in companies in the IMI Group are purchased from Aharon Shapira, co-founder and co-CEO of IMI, and Avi Cohen, co-CEO of IMI, which currently hold equal ownership in the group. Tadiran will pay NIS 76.3 million for the shares purchased in IMI (Ashkelon) and for NIS 23.8 million for D & D shares. As far as is known, the two companies acquired substantial dependence on Intel Israel, which constituted about 70% of IMI’s revenues in the years 2018-2017, and about 85% of the income of D & D
The sellers, Shapira and Cohen, will continue to hold the balance of the shares of the companies in the IMI Group (30%) after the completion of the transaction, and will continue to manage it in the coming years. Completion of the transaction depends on the fulfillment of preconditions, including the approval of the Competition Commissioner, the approval of a material customer of the Group, and more. Tadiran notes that “the acquisition of the acquired shares will be from the Company’s independent sources and, as required, at the closing date, also through external financing.” As part of the agreements, a mechanism was set for the sale of the remaining shares of the IMI Group to Tadiran, which will be exercisable after three years from the closing date of the transaction and for a period of three years. Pharma, building and agriculture. IMI has a planning arm, a manufacturing arm and an execution and construction arm, which includes the production and assembly of complex air conditioning systems that are tailored to customer requirements.DNP is engaged in clean rooms, including designing, manufacturing and constructing clean rooms for semiconductor and pharmaceutical industries, as well as manufacturing complementary products for clean rooms.
The two companies operate in two adjacent plants located in Ashkelon, as well as in a building located in Kiryat Gat. The Group employs approximately 250 permanent employees and additional employees according to the Group’s needs. IAI’s revenues totaled NIS 111 million in 2018, its operating profit was NIS 15 million, and net profit reached NIS 11 million. Last year, DNP recorded revenues of NIS 36 million, an operating profit of NIS 9 million and a net profit of NIS 7 million.Tadiran also said that the company is likely to acquire 70% of the shares of three additional private companies that are controlled by IMI Group shareholders and other entities. These companies are engaged in acclimatization and heating for intensive crops, industrial air conditioning contracting, and clean industry systems.The operations of Tadiran Holdings, controlled by CEO Moshe Merod, focus on the import, manufacture and marketing of air conditioners and air conditioning systems for the domestic, commercial and industrial markets, mainly under the Tadiran, Amcor and Toshiba brands. Under the name of Crystal, Amcor, Tadiran and Spectra, after deciding in 2015 to move out of the marketing activity of “white” electrical appliances (refrigerators, dishwashers, ovens, etc.) and focus on energy and its traditional air conditioning operations. Enter the food field? Sano is negotiating to buy Sugat from the British food giant
Sano, the public toiletries manufacturer controlled and managed by the Landesberg family, is negotiating to acquire Sugat, the food manufacturer that is mainly identified with sugar, rice and legume packages, and is considered a monopoly in these fields. This will be the first time in its history that Sano will enter To the food sectorGlobes” has learned that Sano, the public toiletries manufacturer controlled and managed by the Landsberg family, is negotiating to acquire Sugat, the food manufacturer identified mainly with sugar, rice and legume packages, and is considered a monopoly in these fields.If such a deal takes place, it will be the first time in history that Sano will enter the food industry. Massano said in response to a “Globes” inquiry that it was unable to confirm or deny the matter, as it signed confidentiality documents.About two months ago, the British food giant, which, as stated, owns Sugat, has hired Leumi Partners to find a buyer for it, due to its desire to leave the Israeli business. In addition to Sano, Leumi Partners met in recent weeks with various entities, including funds, in addition to a group of investors in which Sugat’s current CEO, Gill Gammon, is involved.Snow(20,060 -1.28%)
Is a veteran company engaged in the manufacture and marketing of household consumer goods in the areas of cleaning, maintenance, paper and toiletries. The company is traded at a company value of NIS 2.4 billion and is considered one of the largest manufacturers in Israel. Its revenues in 2008 totaled NIS 1.5 billion, and include activities outside of Israel.Sugat is one of the largest food producers in the local food industry. Its annual sales to the retail market totaled NIS 410 million in 2018, reflecting a decline of 4.4% compared to its sales in 2017, in contrast to the 4% growth in the food market, according to StoreNext figures. Sugat also suffered a decline in its share of the market this year when it posted a decline of 8%, and now holds 1.1% of the food and beverage market in Israel.In addition to activity in the retail market, Sugat also produces for the institutional market and the food industry, so that its sales turnover is double that. In addition to the activity, Sugat also owns land in Kiryat Gat, covering an area of about 100 dunams in which the plant operates, Whose value may contribute to a large extent to the value of the transaction.Two years ago, Sugat announced that it would close its refinery in Kiryat Gat a decade after its establishment, and instead of producing sugar in Israel would import white sugar from abroad.
One of the concerns of the companies interested in the acquisition concerns the import and purchase of sugar. Much of Sugat’s sugar is purchased by the parent company, and the dissolution of these agreements could lead to a deterioration in its results.About a year ago, Sugat raised prices on some of its products by 30% against the background of the increase in raw materials.Sugat, founded by Dov Fitchi, was sold to the Federman family, and in 1988 it was acquired by the British corporation ED & F Man, which leads the world’s commodities markets.ED & F Man is a British conglomerate that operates in 60 countries and employs 7,000 people. The company’s annual sales turnover totals $ 10 billion. Its main activity focuses on coffee, sugar, beans and grains.Despite the decline in the company’s value: the merger between BeyondTime and Shiah was approvedThe approval was carried out despite a decline in the Company’s valuation due to a negative change in the coefficient of uncertainty regarding the realization of the activity as planned. According to the new valuation, the value of each fully diluted share is now NIS 1.07, compared to NIS 3.1 per share in today’s tradingThe merger between Beyond Time was approved today(222 -0.18%)And the Sheikh Sarid Company, by a majority vote of the shareholders’ meeting of the companies. At this time, the company is trading at a value of NIS 61 million.he approval was implemented despite a decline in the Company’s valuation due to a reduction in the value of the activity being established by the Company in Greece, due to a (negative) change in the coefficient of uncertainty regarding the realization of the activity as planned. Now, instead of NIS 430 million, the company is estimated by Barzilai, an economic consulting firm, to be worth NIS 381 million. The change in the valuation came as part of the supplementary requests that the Securities Authority requested from the Company prior to the convening of the general meeting
According to the new valuation, the value of each fully diluted share is now estimated at NIS 1.07, compared to NIS 3.1 per share in today’s trading. However, it should be noted that full dilution takes into account the transfer of additional segments from the company to the discourse following milestones, when milestone events may themselves be events that reduce risk and raise the value of the company.At the date of the transaction, 78% of the company’s shareholders will be allocated to the shareholders. The deal is still dependent on raising capital for the company, NIS 17 million in a private placement and at least NIS 21 million in a rights issue to the company’s shareholders at the time of the issue. The details of the expected issue are not yet fully disclosed, but they will include two option packages, one reflecting a value of NIS 325 million, and the proceeds from its realization could reach NIS 32 million, one reflecting a company value of NIS 420 million and possibly NIS 60 million.Sarid is owned by the family of farmers Sarid is one of the most prominent companies in the field of cannabis in Israel. Is one of the eight pioneers in the field of cannabis, whose revenues in 2018 were NIS 18.5 million. The profit was NIS 8 million, but about 3.5 million of them stemmed from the highest value of biological assets. In the first quarter of 2019, the company recorded revenues of NIS 5.8 million, and a profit of NIS 1.2 million. The cannabis reform that went into effect in April 2019 may devour all the easy things related to revenues and profits in the Israeli market, but it should be noted that Sheikh is also one of the strongest companies in the new reform.
The company’s valuation is based on the start of Cannabis exports from Israel in 2020. According to forecasts, revenues in Israel will be NIS 25 million in 2019, NIS 32 million in 2020 and reach NIS 81 million in 2024. Income from abroad: NIS 9 million in 2020, 19.5 million in 2021 and 89 million in 2024, of which 30 million are value added products.After a process of streamlining: Israeli ClickTail is sold to a French companyClickTail, which operates in the area of user experience, was sold to Contentscore in a cash transaction and shares. The amount of the acquisition was not disclosed. ClickLettel raised $ 25 million in the last few months and fired 20 employees,ix months after the appointment of the new CEO and the dismissal of 20 employees in Israel, Israeli company ClickTail is being sold to France’s Contentquare, which is not known, and according to industry sources, the deal includes cash and shares. The goal is to monitor the activity of the surfers – from their mouse movements to their actual activity – to understand the psychology of user behavior.
Over the years, ClickTail has raised $ 90 million, and its main shareholders are the foreign funds KKR and Amadeus. Of the investment, $ 25 million has been raised in recent months and is apparently designed to give the company a breath of breath until it completes the transition to profitability. The fact that the combined stock deal provides investors with an opportunity to improve their investment. Contentscore has raised $ 120 million so far.ClickTail was founded 13 years ago by Dr. Tal Schwartz, who serves as chairman of the company, and Eric Yabilevich, and is now managed by Shlomi Hagai, who previously served as CFO of the company. It seems that the financial structure of the Israeli company is less good, and Hagai says that in his months in office he invested in reducing expenses and transferring the company to profitability, and the company has about 190 employees, 130 of them in Ramat Gan and the rest in offices in New York York, San Francisco and London.ClickLetail has made strategic changes in recent years and has moved from medium to small (SMB) customers to enterprise customers. This is due to technological limitations and a business model based on human consulting services, which are less suitable for large companies. Today the company has about 300 customers, half of which are large businesses. Its revenues reach tens of millions of dollars a year. In an interview in August 2017, former CEO Tubal Shumot said that the company’s annual growth rate would reach 40-50% and within two years annual revenues would reach $ 100 million, but the company did not meet that target.
Hagai expresses optimism about the merged company, noting that while CliqueTail is making most of its revenue from the US, the French company operates mainly in Europe, noting that the subsidiary will serve 600 customers, 30% of whom are Fortune 100 companies. ClickTail’s clients include Dell, T-Mobile and Royal Bank of Scotland, and Contentscore provides its solutions to companies such as Volkswagen and the Sephora network.Hagai will continue to lead and lead the activity in Israel, and the joint company will be headed by Jonathan Cherkie, CEO of Contentscore, which will include not only development, but also customer success, since they do not want to lose customers as a result of the merger. Which combined both of them. Moshe and Pnina Edri continue to increase their activity in the field of television: in the negotiations for the purchase of Talit CommunicationsAccording to estimates, the Edri family will pay NIS 20 million for the purchase. The negotiations began before the company’s owner, Yehuda Talit, passed away earlier this month
Moshe and Pnina Edri continue to increase their activity in television: “Globes” has learned that the two are conducting advanced negotiations for the acquisition of Talit Communications. According to estimates, the Edri family will pay NIS 20 million for the purchase. It should be noted that the negotiations began to take place before the company’s owners, Yehuda Talit, passed away at the beginning of the month.The Edri family owns the United King Films company, founded jointly by the brothers Moshe and Leon Edri. Recently, Keshet acquired the ownership of Channel 24 through Telad, also controlled by United King, for NIS 15 million. Channel 24 will operate as a small channel that is exempt from regulatory content obligations and is supposed to be transformed from a music channel only to one that broadcasts movies and series as well. United King, we note, also owns Cinema City, deals with film distribution and owns a production company.In addition to Channel 24, United King has other television channels through the ownership of Telad, which was once one of the franchisees who formed Channel 2. Although Telad ceased to act as the channel’s franchisee, it operates niche channels such as Channel E,Talit Communications’ activity is synergetic with United King’s activity on several levels: Ten years ago, Talit Productions together with the FOX Communications Corporation acquired half of the company that owns Baby International, and Talit became an international giant in terms of animation for babies. On the face of it, today’s children spend more and more time with the content on YouTube and on the social networks, but at the younger ages their viewing is still supervised by the parents, the television screen is preferred.
Let us recall that Talit Communications, which represents artists in Israel and brings performances from the world, has a rich musical catalog, which is also likely to contribute greatly to the Edri family. Talit Communications also represents and has about 20 television channels broadcast in Israel, including National Geographic.The Edri family refused to comment on the report.