Secondary Buyout • Manufacturing

Fortissimo Capital Acquires Fishman Thermo Technologies

On October 29, 2015, growth capital firm Fortissimo Capital acquired manufacturer Fishman Thermo Technologies from Tene Investment Funds for 159M USD

Acquisition Context
  • This is Fortissimo Capital’s 2nd transaction in the Manufacturing sector.
  • This is Fortissimo Capital’s largest (disclosed) transaction.
  • This is Fortissimo Capital’s 16th transaction in Israel.

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M&A Deal Summary

Date October 29, 2015
Target Fishman Thermo Technologies
Sector Manufacturing
Buyer(s) Fortissimo Capital
Sellers(s) Tene Investment Funds
Deal Type Secondary Buyout
Deal Value 159M USD

Target Company

Fishman Thermo Technologies

Misgav, Israel
Fishman Thermo Technologies develops, manufactures and markets thermostats and caps (gas caps, pressure caps, etc.) for the automotive aftermarket as well as the OE market.
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Buyer Overview 1

Buyer

Fortissimo Capital

Tel Aviv, Israel

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2004
PE ASSETS 2.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Fortissimo Capital is a private equity firm that targets investments in private and public Israeli companies. The Firm looks to invest in technology-based and industrial companies that require capital to expand. Fortissimo focuses on companies operating in high growth markets with proven sales, consistent revenue streams, and strong customer bases. Fortissimo will consider a variety of transaction situations including spinouts, selling shareholders, growth capital financings, and special situations. Fortissimo Capital was formed in 2004 and is based in Tel Aviv.


Deal Context for Buyer #
Overall 20 of 39
Sector: Manufacturing 2 of 2
Type: Secondary Buyout 2 of 3
Country: Israel 16 of 30
Year: 2015 3 of 3
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-22 Origene Seeds

Rehovot, Israel

Origene Seeds is an innovative international company specializing in research, nurturing, production, marketing, and the sale of vegetable seeds. The company sells over 90 different strains from eight different plant families, with a focus on the gourd family (watermelon, melon, cucumber, zucchini squash, and pumpkins). Origene Seeds was founded in 2004 and is based in Rehovot, Israel.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-02 Tuttnauer Europe

Breda, Netherlands

Tuttnauer Europe is a manufacturer of autoclave sterilizers and plasma sterilizers, and a provider of washer disinfectors and other infection control products in the Healthcare and Life Science industries. Tuttnauer Europe was established in 1925 and is headquartered in Breda, Netherlands.

Buy $100M

Seller Profile 1

SELLER

Tene Investment Funds

Tel Aviv, Israel

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tene Investment Funds is an Israeli private equity firm focused on acquiring growth-oriented companies. The Firm targets well-established, export-oriented, tech-enabled businesses operating in growth sectors that include resource management, water treatment, clean technologies, metal, plastic products and components, consumer products, and homeland security. Tene Investment Funds was formed in 2004 and is based in Tel Aviv.


Deal Context for Seller #
Overall 5 of 9
Sector: Manufacturing 1 of 1
Type: Secondary Buyout 2 of 2
Country: Israel 5 of 8
Year: 2015 2 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-03 Qnergy

Ogden, Utah, United States

Qnergy is a developer and manufacturer of Stirling engine based systems for Remote Power Generation and Distributed Generation. Qnergy was formed in 2009 and is based in Ogden, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-30 TIBA Parking Systems

Columbus, Ohio, United States

TIBA Parking Systems is a manufacturer and provider of automated parking systems and revenue access and control solutions for parking owners and operators, mainly in Israel and the North America. TIBA Parking Systems was formed in 1986 and is based in Columbus, Ohio.

Buy -