The Israeli private equity firm will pay NIS 150 million for an 80% stake in CTS Group.
Israeli private equity firm Fortissimo Capital has acquired a controlling 80% stake in Israeli pharmaceutical and consumer healthcare company CTS Group for NIS 150 million from CEO Sigal First and her family and the Zussman and Cohen families.
First will continue to own a significant stake in the company and will serve as chair of the board.
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CTS Group operates in three main areas – pharmaceuticals, agricultural products and veterinarian products. The company has annual revenue of hundreds of millions of shekels and sells its products in Israel and various European countries. CTS has 280 employees in three plants – two in Kiryat Malakhi and one in Kiryat Ata, and its head office is in Hod Hasharon.
In its announcement, Fortissimo Capital, headed by founding and managing partner Yuval Cohen, said that it plans investing in the pharmaceutical company and significantly expanding its activities both through organic growth in its core businesses and additional acquisitions in CTS’s areas of activities and interfacing industries.
The acquisition of CTS is Fortissimo’s seventh investment in the field of healthcare.
Published by Globes, Israel business news – en.globes.co.il – on August 28, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Yuval Cohen Credit: Shlomi Yosef
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