Israeli equity funds Kedma Capital and Sky Fund have acquired a 70% controlling interest in S.AL. Group, reflecting a NIS 280 million value for the company. S.AL. is regarded as the leading group in the marketing of equipment and products for the construction and infrastructure industry.
The two funds each acquired 35% of S.AL., and the three founders will still own 10% each. Before the deal, cofounders Nir Alkalay and Sharon Weissman owned 35% each, and cofounder Meir Dahan owned 30%.
S.AL. was founded in 1974. Through its subsidiaries, the group provides a single roof for products in plumbing, sewage and drainage systems products; valves and taps; pumps; energy systems; heating equipment; firefighting equipment; and swimming pool equipment. According to the BDI website, the group's sales are growing consistently, with revenue rising from NIS 485 million in 2014 to NIS 515 million in 2015.
The group, which has 290 employees, mainly represents overseas manufacturers and sells baskets of products in its various spheres of business, in addition to building large pumping stations for sewage and wastewater and water purification. The group's warehouses cover 50,000 square meters, and its central warehouse is in Holon. The group also has branches incorporated as separate companies throughout Israel.
S.AL. is the exclusive representative in Israel of 50 European and US manufacturers. Its customers include plumbing, infrastructure, air-conditioning and fire-fighting contractors; municipalities; local councils; and the Ministry of Defense and other government ministries.
Published by Globes [online], Israel Business News - www.globes-online.com - on July 18, 2017
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