FIMI buys G4S Israel

Ishay Davidi

FIMI is paying about NIS 425 million to buy the company from global security group G4S plc. 

FIMI Opportunity Funds,controlled by Ishay Davidi, and Israel's largest private equity fund, announced on Friday that it had signed an agreement for the acquisition of security company G4S Israel (formerly Hashmira) for an estimated NIS 425 million. "Globes" reported the negotiations between the two sides three months ago.

G4S Israel employs about 7,500 people and its annual sales turnover is estimated at NIS 800 million with an EBITDA margin of about 10%. The company's CEO, Micky Adiv, who has been in the position since 2006, is expected to remain together with the rest of the senior management. The company is part of the global G4S group which, according to its website, operates in over 100 countries and employs more than 610,000 people. Parent company G4S plc is traded on the London Stock Exchange. The sale was managed by Barclays Bank.

The British company decided earlier this year to exit operations in Israel, alongside plans to reduce activity in other markets. G4S Group CEO Ashley Almanza said, “The sale of our business in Israel is part of our active portfolio management programme announced in 2013 to improve our strategic focus and capital discipline. G4S Israel is a well-managed business that will grow and prosper as part of the FIMI group providing a positive future for our 6,000 colleagues in Israel and long term, high quality service and support to customers operating in the Israeli market.” Nevertheless, the G4S announcement states, "G4S will retain a presence in Israel through ownership and continued investment in the flagship national police training centre Policity in partnership with FIMI and Shikun & Binui, a major Israeli infrastructure and real estate group."

G4S Israel was founded in 1937 by Moshe Shermister. It became part of the G4S group in 2002. Today, it has four main divisions: guard and security services; electronic security and closed-circuit television systems for detecting break-ins and fires; design, supply and installation and maintenance of computerized systems such as metal detector gates and screening systems; and design, supply and installation and maintenance of low voltage systems for systems control in buildings.

Published by Globes [online], Israel business news - - on December 4, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Ishay Davidi
Ishay Davidi
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