ILift, a provider of hoists for building sites, has bought control (75%) of tower crane company Skyline Cranes and Technologies for NIS 255 million, valuing the company at NIS 340 million. ILift is controlled by its CEO Yaron Sulzbacher and public company Alma Yesodot (TASE: ALMY), which itself is controlled by Yitzchak Mirilashvili.
ILift has bought the controlling stake in Skyline from its founder and chairperson Baruch Parnas. In 2025, Skyline had revenue of NIS 172.4 million and a net profit of NIS 21.5 million.
ILift has signed an agreement with a financial institution that will invest NIS 67 million in it in return for an allocation of 20% of its shares, a deal that values ILift (pre-money) at NIS 270 million. The institution has also lent ILift NIS 40 million, part of which is convertible to up to 7.5% of the shares in the company. In addition, ILift has secured a NIS 200 million loan from Bank Hapoalim, repayable over 7.5 years.
The investment by the financial institution represents an unlocking of value for Sulzbacher and Alma Yesodot. In 2021, Alma Yesodot bought a third of the shares in ILift at a pre-money valuation of NIS 95 million. The company’s value has thus almost tripled.
"When you found a company and build it up over the years, your responsibility is not just to achieve success with it but also to know how to identify the point at which you should open up the next stage for it," Parnas said. "I believe that joining up with ILift will enable it to continue to develop on the same foundations and to reach new proportions."
"Skyline is an amazing company, the leading company in its sector, with outstanding people, deep professional know-how, and a reputation built up over years," Sulzbacher said. "As far as we are concerned, joining up with it is much more than expanding our range of services. It’s a strategic move that connects two complementary professional platforms and brings us closer to the vision of a one stop shop for all vertical transportation needs at construction sites. We see significant potential for continued growth at both companies, investment in capabilities, technology and service, and creating greater value for our customers, while maintaining safety as the leading principle of our business."
Published by Globes, Israel business news - en.globes.co.il - on September 22, 2026.
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