FIMI Opportunity Fund paid NIS 350 million for the security company, which is one of Israel’s largest employers

FIMI Opportunity Fund paid NIS 350 million for the security company, which is one of Israel’s largest employers.

Israeli private equity firm FIMI Opportunity Funds, headed by Ishay Davidi, has completed the 100% purchase of security firm G4S Israel from its British parent company for NIS 350 million. G4S, formerly Hashmira, is Israel’s largest security solutions company. It is also one of the country’s largest employers, with some 7,000 employees. It was founded in 1937.

According to FIMI’s announcement, G4S Israel is a stable and profitable company with annual sales turnover of some NIS 750 million and an EBITDA rate of 10%. CEO Micky Adiv, who has been in the post since 2006, is expected to remain.

G4S said in a statement dated June 29, ” G4S, the leading global integrated security company, announces that, having received all necessary government and regulatory approvals, the sale of G4S Israel to FIMI has completed today in accordance with the sale agreement announcement of 2 December 2016.”

Published by Globes [online], Israel business news – www.globes-online.com – on July 2, 2017

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