Real Estate (Flash Photography 90 / Gili Yaari)
Minrav, whose control was sold last August and deals with the areas of execution contracting, is today carrying out another transaction under the new ownership. As part of the deal, the company will acquire a company in the fields of electro-mechanics for NIS 72 million
The acquired company is Arden-Mashav, which employs about 290 people and has annual sales (in 2020) of NIS 280 million. The acquisition came after Manrav completed the acquisition of Derech Ofer with the intention of increasing the company’s aggregate share in large infrastructure projects that are due to be implemented in the coming years.
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Pini Dekel, CEO of the Minerva Group: “This is a synergistic acquisition for our operations that will give Manrav many benefits, expand the basket of products we offer our customers along with improving competitive ability, and allow us to compete better in tenders.
“The Arden-Mashav Group, which is one of the leaders in the field of electro-mechanics in Israel, enjoys a reputation and high professional ability, and has the highest quality human capital that we intend to preserve and nurture. Us for a year, will help maintain the stability and continuity that is important to the company and its employees. We consider the acquisition and strengthening of the Minrav Group part of the will of the company’s founder Avraham Kuznicki, who passed away last week. ”
The acquired company is engaged in the execution of electro-mechanical projects in the fields of electricity, central air conditioning and industrial refrigeration, as well as providing service, maintenance and testing in these fields. In addition, the company is active in the fields of transportation in traffic control and electronic signage. The company employs about 290 people nationwide and in 2020 recorded revenues of about NIS 284 million.
In Minrav’s opinion, this acquisition will provide it with significant business benefits, including improving its competitive ability, reducing and controlling execution risks, and also sees the service portfolio as an asset that yields positive and stable cash flow over time.
As you may recall, in September 2021, Manrav completed the acquisition of control (60%) from Derech Ofer for approximately NIS 50 million. Derech Ofer is engaged in work in the field of urban and interurban infrastructure. The company, whose activities will be integrated under the Minerva Infrastructure activity, has about 20 active projects.
The Minrav Group was represented by attorneys Yaakov Enoch, David Yaakovi and Lihia Bachar from the firm of M. Firon & Co.
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