Hey Lift Acquires 75% of Skyline Cranes in NIS 270 Million Deal

 Israeli construction-equipment company Hey Lift has agreed to acquire a 75% controlling stake in Skyline Cranes, in a transaction valued at approximately NIS 270 million. The deal implies a total valuation of approximately NIS 340 million for Skyline Cranes.

Skyline was founded by businessman Baruch Frans, 87, together with Guy Frans and Aviv Carmel. Frans, who has served as chairman of the company, will continue to support Skyline as an adviser following the transaction.

The acquisition represents another step in Hey Lift's strategy of building a comprehensive “One Stop Shop” platform for vertical transportation and lifting solutions at construction sites.

NIS 200 Million Financing from Bank Hapoalim

As part of the transaction, Bank Hapoalim provided approximately NIS 200 million in financing.

The financing was led by the bank's Industry, Commerce and Hospitality sector within its Business Division, headed by Sarit Segev-Yehzekeli.

According to the parties, the financing reflects the bank's confidence in Skyline's operations, financial strength, ownership structure and growth potential, as well as in the broader industrial sectors supporting Israel's construction industry.

From Tower Cranes to a Full Vertical-Transport Solution

Skyline Cranes specializes in tower cranes and lifting solutions for construction and infrastructure projects.

Hey Lift focuses on vertical transportation solutions, including freight elevators, elevator towers and mast climbing platforms.

The combination is intended to create a broader range of complementary services for construction companies, covering different vertical transportation and lifting requirements throughout the life cycle of a construction project.

The two companies will continue to operate and develop their respective areas of expertise while seeking to strengthen their capabilities and services for customers.

Safety is expected to remain a central priority for both businesses, alongside professional standards, reliability and customer service.

Baruch Frans: “The Right Time to Open the Next Chapter”

Baruch Frans said that selling control represents a natural stage in the development of a company he helped build over many years.

“When you establish a company and build it over many years, the responsibility of a founder is not only to lead it to achievements, but also to recognize the point at which it is right to open the next chapter,” Frans said.

“Skyline was built with a long-term vision and with investment in people, equipment, technology and safety. I believe the connection with Hey Lift will enable it to continue developing from these foundations and reach new levels of activity.”

Frans also thanked Skyline's employees and management team, emphasizing their contribution to the company's development.

He will remain involved with Skyline as an adviser.

Hey Lift: “A Strategic Combination”

Yaron Zoltsbacher, founder and CEO of Hey Lift and the incoming chairman of Skyline Cranes, described Skyline as a leading company in its field, with experienced employees, extensive professional knowledge and a reputation built over many years.

“From our perspective, the connection with Skyline is much more than an expansion of our range of services,” Zoltsbacher said. “It is a strategic move that connects two professional and complementary platforms and brings us closer to our vision of creating a One Stop Shop for all vertical-transportation needs at construction sites.”

He said Hey Lift sees significant potential to continue investing in capabilities, technology and customer service while maintaining safety as a core operating principle.

Hey Lift Has More Than Doubled Its Activity Since 2021

Hey Lift is currently owned by Yaron Zoltsbacher, Amnon Amer and Alma Foundations, which joined the company's ownership structure in 2021.

Since Alma Foundations' investment, Hey Lift has more than doubled the scale of its operations, according to the company.

The Skyline transaction represents another stage in Hey Lift's strategy to expand its activities and build a broader platform serving the construction sector.

Giza Singer Even Advises Hey Lift

Dov Perla, partner and CEO of the consulting division at Giza Singer Even, which advised the buyer, said the acquisition represents a major transaction for a strong company.

“This is a major move by a wonderful company, and I am confident that we will have the opportunity to accompany Hey Lift, and Yaron in particular, in additional significant transactions in the future,” Perla said.

Legal and Financial Advisers

Hey Lift was represented in the transaction by Attorney Moshe Minster of Herzog Fox Neeman.

Skyline Cranes was represented by Attorney Amir Silsh of Kamin Silsh Law Offices and CPA Erez Somach of Somach & Co.

Bank Hapoalim provided financing as part of its ongoing support for Hey Lift's business activities and expansion.

The transaction marks a significant change in Skyline Cranes' ownership while preserving the company's existing management, employees and accumulated professional expertise. According to the parties, the objective is to combine the strengths of the two companies while maintaining continuity for Skyline's customers and operations.