Electra expands transport operations: acquires control of Metaylei Lahav

Electra is expanding its operations in the transport sector and is acquiring, through its subsidiary Electra Afikim, a controlling interest (51%) in the transport company Metaylei Lahav. The current owners of the company, members of the Nassasra family, will continue to hold the remaining shares, while Electra has been granted an option to purchase their remaining holdings in the future. According to estimates, the consideration for the transaction amounts to several tens of millions of shekels and reflects a value for Metaylei Lahav approaching 100 million shekels.

Metaylei Lahav operates in the south of the country and is based in Be'er Sheva. The company operates transport systems in the southern region and a fleet of more than 200 vehicles, including buses, minibuses, and vans. It provides services, among others, to the Ministry of Defense, and operates transport systems for schools, companies, and factories. Its annual sales turnover is estimated at approximately 100 million shekels.

This is Electra's second expansion move in the transport sector, after it acquired control of the company Merkava Hasaot, operating from Petah Tikva, about two years ago. That company operates a fleet of several dozen buses and transport vehicles, and its annual sales turnover stands at about 40 million shekels.

Electra entered the transport and public transport sector in 2021, following the acquisition of a controlling interest (51%) in the company Afikim for 75 million shekels, based on a valuation of 147 million shekels. Following the transaction, the company's name was changed to Electra Afikim. Later that year, Electra Afikim acquired 100% of the shares of the public transport company Egged Ta'abura from Egged for 139 million shekels.

Electra Afikim currently operates about 280 service lines in the public transport sector using 1,250 buses, alongside services for more than 100 clients in the transport sector. The company also won a tender to operate the light rail line that will connect Haifa and Nazareth, which Electra is expected to begin constructing in the coming months, after completing the financial closing for the project.

In September, Electra entered into a transaction with the TSHI fund, according to which the fund will enter as a partner (33%) in Electra Afikim in exchange for 250 million shekels, in a deal reflecting a value of 750 million shekels for the company. Following the move, the ownership structure of the company will change: Electra's holding will decrease from 51% to 33%, while the company's founder, Amnon Sela, will hold the remaining 33%.

The transport activity of Electra Afikim, which will also include the activity of Metaylei Lahav, is carried out as part of Electra's operation, service, and maintenance sector. This is the company's second-largest business sector in terms of revenue. In the first quarter of 2026, the sector's revenue amounted to 876 million shekels, which accounted for 23% of Electra's total revenue. For comparison, the contracting sector in Israel, which is the company's largest business sector, recorded revenue of 2 billion shekels. However, the operation, service, and maintenance sector shows the highest profitability rate in the company, with an operating profit of 8% for the quarter.