Minrav Group will acquire the Arden-Mashav company for NIS 72 million

The Minrav Group will acquire the Arden-Mashav company for NIS 72 million. The acquired company is engaged in the execution of electro-mechanical projects in the fields of electricity, central air conditioning and industrial cooling. In addition, the company is active in the fields of transportation - traffic control and electronic signage. Arden-Mashav employs about 290 people nationwide and in 2020 its revenues were about NIS 284 million. Minrav itself was acquired last August by a group of investors led by Essence Partners, at a value of about NIS 750 million.
Manrav Group CEO Pini Dekel said: "We consider the purchase part of the will of the company's founder Avraham Kuznicki, who passed away last week. This acquisition, following the recently completed acquisition of Derech Ofer, will significantly improve Manrav's position in anticipation of the expected growth in infrastructure and construction tenders in the coming years in the private and public market. "This is a synergistic acquisition for our activities that will expand the basket of products we offer and allow us to better compete in tenders and improve our competitiveness while reducing and controlling execution risks."
The transaction was accompanied by the purchasers by the law firm M. Firon & Co. and BDO and by the sellers by the law firm Shenhav, Conforti Rotem and EY. Leumi Partners' CEO, Avi Ortal, assisted in completing the transaction. Leumi Partners is one of the holders of the Minrav Group, along with Migdal Insurance and Clal Insurance.