Pool-cleaning robot manufacturer Maytronics (TASE: MTRN) reported to the stock exchange on Friday morning that it had received a non-binding offer from private equity firm FIMI Opportunity Funds, headed by Ishay Davidi, of a cash investment of NIS 200 million. The offer is based on a pre-money valuation of NIS 200 million.
Assuming that it goes ahead, the investment will take place via an issue of shares at a price of NIS 1.821 per share, giving FIMI a 50% stake in the company upon completion. Maytronics shares surged 15.87% on Friday, pushing the company’s market cap above NIS 252 million-a notable shift following a 40% decline in the stock price since the beginning of the year, and the loss of most of its value over the past two years.
In addition to the initial investment, the proposal includes two options for further capital injections totaling up to NIS 150 million at higher valuations: the first, an investment of NIS 50 million by the end of 2027 based on a valuation of NIS 250 million; and the second, an investment of NIS 100 million by the end of 2028 based on a valuation of NIS 300 million.
The controlling shareholder in Maytronics, Kibbutz Yizre'el, which currently holds 56% of the shares, will see its stake diluted to 28%. Under the terms of the proposal, FIMI and the kibbutz are expected to enter into a control agreement. Completion of the transaction is subject to due diligence, the signing of a binding agreement, and additional approvals; Maytronics has granted FIMI an exclusivity period of 60 days.
Negotiations between the parties were first disclosed on August 17, at which time it was estimated that FIMI would acquire a controlling stake based on a valuation of approximately NIS 300 million. In early October, the Maytronics board of directors extended the exclusivity period granted to the fund.
The background to the deal
The decline in Maytronics’ share price intensified as its business took a sharp downturn. In 2023, revenue reached NIS 1.9 billion, but net profit fell by 32% to NIS 143 million. In 2024, were NIS 1.6 billion, and the company switched to a loss of NIS 35 million. In 2025, revenue continued to decline, to NIS 1.4 billion, and Maytronics reported a massive loss of NIS 228 million, primarily because of significant write-downs of inventory and assets. This deterioration was further exacerbated by intensifying competition in the company's market.
Maytronics was founded in 1983 at Kibbutz Yizre'el and went public in 2004. In 2020, it became the first kibbutz-owned company to enter the Tel Aviv 35 Index, and in 2021 it had a market cap of NIS 9 billion. In 2012, the kibbutz members rejected an offer from US pool equipment manufacturer Hayward to acquire the company at a valuation of NIS 345 million.
Published by Globes, Israel business news - en.globes.co.il - on October 25, 2026.
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