Building facade manufacturer Alumayer Ltd. has raised NIS 4.75 million at a company value of NIS 10 million, before money, in a financing round led by a group of private investors headed by Edmund de Rothschild Israel Opportunity Fund and Israeli businesspeople Merav Gold and Amit Biel. The investors have an option to increase their investment by NIS 3 million.
Alumayer manufactures a range of aluminum, glass, uPVC, and stone building cladding, sheeting, walls, frames and facades, as well as scaffolding. The company is bucking the industry trend in that not only is it raising capital, it is also hiring. The company plans to soon boost its 65-man workforce by 25%.
Lod-based Alumayer has operations in the UK, Romania, Bulgaria, Nigeria, India, Hong Kong, and Thailand.
Following the investment, Alumayer's ownership structure will be as follows: the investment group - 40%; the Klinger family, which founded the company - 40%; and the public - 20%.
Published by Globes [online], Israel business news - www.globes-online.com - on March 19, 2009
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