M&A Deal Summary

Fortissimo Capital Acquires Gadot Biochemical Industries

On May 2, 2018, growth capital firm Fortissimo Capital acquired chemicals company Gadot Biochemical Industries from Delek Group

Acquisition Highlights
  • This is Fortissimo Capital’s 1st transaction in the Chemicals sector.
  • This is Fortissimo Capital’s 18th transaction in Israel.

M&A Deal Summary

Date 2018-05-02
Target Gadot Biochemical Industries
Sector Chemicals
Buyer(s) Fortissimo Capital
Sellers(s) Delek Group
Deal Type Divestiture

Target

Gadot Biochemical Industries

Haifa Bay, Israel
Gadot Biochemical Industries produces and markets lemon citric acid and citric acid salts used in the food industry, drugs, and detergents, and also markets and sells fructose used as a sugar substitute and premium sweetener. Gadot Biochemical Industries was founded in 1964 and is based in Haifa Bay, Israel.

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Buyer(S) 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 STATS #
Overall 24 of 35
Sector (Chemicals) 1 of 1
Type (Divestiture) 2 of 3
Country (Israel) 18 of 26
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-28 Solynta

Wageningen, Netherlands

Solynta is a potato breeding and biotechnology company that invented and established hybrid potato breeding based on pure inbred parent lines, a game-changing (non-GMO) breeding technology platform. Solynta is based in Wageningen, Neherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-02 Starhome Mach

Zurich, Switzerland

Starhome Mach is a roaming solutions company. It is a software that allows mobile network operators to capture and manage mobile phone customers who are outside of their home country. For example enabling short dial codes, such as access to voicemail, to work whilst abroard. Deployed in 200 mobile network operators worldwide.

Sell -

Seller(S) 1

SELLER

Delek Group

Herzliya, Israel

Category Company
Founded 1951
Sector Oil/Gas Exploration
Employees612
Revenue 12.3B ILS (2023)
DESCRIPTION

Delek Group is a holding company through subsidiaries retails gasoline and lubricants, and operates gasoline filling stations, convenience stores and a crude oil pipeline and refinery in the United States, holds interests in the energy, infrastructure, automotive, media, finance and wealth management sectors, and owns real estate investments. Delek Group was founded in 1951 and is headquartered in Herzliya, Israel.


DEAL STATS #
Overall 4 of 5
Sector (Chemicals) 1 of 1
Type (Divestiture) 4 of 4
Country (Israel) 1 of 2
Year (2018) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-04 Ithaca Energy

Aberdeen, United Kingdom

Ithaca Energy (UK) Ltd. is a North Sea oil and gas operator focused on the delivery of lower risk growth through the appraisal and development of UK undeveloped discoveries and the exploitation of its existing UK producing asset portfolio. Ithaca’s strategy is centred on generating sustainable long term shareholder value by building a highly profitable 25kboe/d North Sea oil and gas company.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-27 Phoenix Insurance

Givatayim, Israel

Phoenix Insurance provides life and health, and general insurance services. The company provides general insurance products in the property, liabilities, and other lines of activity. The company provides accident insurance, critical illness insurance, and also provides life, health, and general reinsurance services.

Sell -