Sky Fund News
7 articles
בנק לאומי נכנס כשותף לזרוע ה־IT של קרן סקיי ומקפיץ את השווי שלה פי 2 | כלכליסט
Leumi Partners, the real estate investment arm of Bank Leumi, is set to acquire a 20% stake in Mind Group, owned by private equity firm SKY, for 55 million shekels ($17 million) at a valuation of 225 million shekels ($70 million) pre-money and 300 million shekels ($93 million) post-money. Concurrently, Mind Group will acquire an 80% controlling stake in IT company Telco for 176 million shekels ($55 million) at a company valuation of 220 million shekels ($68 million). The shares will be purchased from Benzi Haber, who will retain the remaining 20%.
InvestmentAcquisition
SKY Israel private equity firm closes $350m fourth fund
SKY, an Israeli private equity firm, has closed its $350 million fourth investment fund, bringing its total assets under management to $800 million across four funds. The firm specializes in investing in mature Israeli companies and actively creating value in them. Most of the investors in the fourth fund are institutional bodies, with some new investors joining. SKYs partners have been working together for many years, and the new fund will continue the investment policy of previous funds. SKY has recently realized successful investments, including the acquisition and sale of Groo and the IPO of iDigital - iCon Group.
Investment
SKY Private Equity Acquires Aztek Technologies
Israel-based private equity firm SKY Private Equity has acquired Aztek Technologies (1984) Ltd. for an undisclosed sum. The acquisition is seen as the first step in implementing Azteks growth and expansion strategy. Aztek offers cloud environment planning and implementation, as well as software license agreement management for enterprise customers. SKY Private Equity sees potential in Azteks cloud business. Aztek, founded in 1984, has an estimated annual revenue in the hundreds of millions of shekels. SKY Private Equity, founded in 2005, focuses on mature Israeli companies and has raised $450 million across three funds.
Acquisition
Sky Fund Looking to Sell Groupon Israel for NIS 100 Million
Israel-based Sky Fund is looking to sell its ownership stake of coupon website Groupon Israel (GROO) for NIS 100 million ($27.7 million). Sky acquired 83% of GROO from international company Groupon in 2017. Groupon entered the Israeli market in 2011 and is profitable with around 5 million page views a month.
Acquisition
Sky fund to buy control of AL Filter
Gideon Aloni, one of the founders of AL Filter, announced that he will acquire the 66% holdings in the company from his son and twin brother for NIS 60 million. Private equity fund Sky is expected to provide the financing for the purchase, making them the controlling shareholder in AL Filter. The dispute between the founding family and the sale of the company led to the use of a buy me buy you (BMBY) mechanism, which was ruled valid by an arbitrator. AL Filter specializes in producing filters for the auto industry and has a list of prominent global auto manufacturers as customers. Sky is a prominent private equity fund in Israel.
Acquisition
Sky fund buys control of iDigital
Sky, an investment fund, has acquired a controlling interest in iDigital from six partners in Pitango Venture Capital. The acquisition involved buying 65% of iDigitals share capital at a company value of NIS 110 million. The Pitango partners will still own shares in iDigital and remain involved in managing the company. iDigital, which sells Apple products, was the sole authorized marketer in Israel until iStore became a competitor. The deal is bringing money into iDigital, and the CEO is Ayelet Zarfati-Rosen. In addition to the Pitango partners, Viola Partners also invested in iDigital. Sky is a private equity fund that specializes in investments in mature Israeli companies.
InvestmentPartners
Sky Fund acquiring Groupon Israel
Private equity fund Sky is acquiring control of Groupon Israel from international company Groupon. The managers of the Israeli branch are also taking part in the acquisition. Groupon began doing business in Israel in 2011 and acquired the Grouper coupons website for an estimated $9 million. The decision to sell control now is due to the companys strategy of bringing a partner into subsidiaries in small international territories. The electronic coupons business has been shrinking in Israel and worldwide, reflected in Groupons share price on Nasdaq, which has plunged by over 80% since its 2011 IPO.
Acquisition
