Investment Summary

Tene Investment Funds Exits Chromagen

On October 24, 2021, Ariston Thermo invested in renewable energy company Chromagen from Tene Investment Funds

Investment Highlights
  • This is Ariston Thermo’s 1st transaction in the Renewable Energy sector.
  • This is Ariston Thermo’s 1st transaction in Israel.

Investment Summary

Date 2021-10-24
Target Chromagen
Sector Renewable Energy
Investor(s) Ariston Thermo
Sellers(s) Tene Investment Funds
Deal Type Add-on Acquisition

Target

Chromagen

Shaar Ha´amakim, Israel
Chromagen is a provider in the field of alternative energy, develops and manufactures a range of efficient and reliable thermal solar systems providing clean, dependable solutions for water heating. Chromagen works hand-in-hand with the construction industry, providing technical expertise for system design for both single-family homes and large systems such as apartment houses, hotels, hospitals and industrial plants. Chromagen was founded in 1962 and is based in Shaar Ha´amakim, Israel.

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Investor(S) 1

Investor

Ariston Thermo

Fabriano, Italy

Category Company
Founded 1930
Sector Manufacturing
DESCRIPTION

Ariston Thermo Group designs, develops, and manufactures boilers and water heating systems.


DEAL STATS #
Overall 3 of 3
Sector: Renewable Energy M&A 1 of 1
Type: Add-on Acquisition M&A Deals 3 of 3
Country: Israel M&A 1 of 1
Year: 2021 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 ATAG

Lichtenvoorde, Netherlands

ATAG is an European condensing boiler manufacturer. ATAG Commercial​ develops, designs, assembles and markets condensing boilers based on its own-patented stainless-steel heat exchanger. ATAG was founded in 1948 and is based in Lichtenvoorde, Netherlands.

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Seller(S) 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 STATS #
Overall 9 of 9
Sector: Renewable Energy M&A 1 of 1
Type: Add-on Acquisition M&A Deals 5 of 5
Country: Israel M&A 8 of 8
Year: 2021 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-22 Scodix

Rosh Haayin, Israel

Scodix is a provider of post-print digital enhancement presses for commercial and industrial printing markets. Compared to incumbent traditional systems, the Scodix solution consumes less energy, boasts a smaller physical footprint and allows operators to print runs of any size on-demand (including web-to-print), eliminating costly and wasteful excess production and toxic chemicals. Scodix was founded in 2007 and is based in Rosh Haayin, Israel.

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