High-Lift Acquires Controlling Stake in Skyline Cranes for NIS 255 Million
High-Lift acquired a 75% stake in Skyline Cranes for NIS 255 million in a deal valuing the company at NIS 340 million, backed by a new institutional investment.
High-Lift Acquires Skyline Cranes for NIS 255 Million
High-Lift, a construction hoist company owned by Yaron Zaltzbacher and the public company Alma Yesodot, has acquired a 75% controlling stake in Skyline Cranes for NIS 255 million, valuing the acquired crane company at approximately NIS 340 million.
As part of the transaction, High-Lift acquired the controlling shares from founders Baruch and Guy Parnes, who will receive nearly a quarter of a billion shekels. Skyline concluded 2025 with revenues of approximately NIS 172.4 million and a net profit of around NIS 21.5 million.
Institutional Investment and Financing
To facilitate the transaction, High-Lift entered into an investment agreement with an institutional entity that will invest NIS 67 million in exchange for a 20% stake, valuing High-Lift at NIS 270 million pre-money. Additionally, the institutional body provided a NIS 40 million loan, partially convertible into up to 7.5% of the company's shares.
The entry of the institutional body represents a significant value inflation for High-Lift's shareholders: founder and CEO Yaron Zaltzbacher, and public infrastructure company Alma Yesodot, controlled by Yitzhak Mirilashvili. In 2021, Alma acquired roughly a third of the hoist company at a pre-money valuation of about NIS 95 million, marking an almost threefold increase in company value.
Leadership Comments on the Acquisition
"When you build a company over years, a founder's responsibility is not only to achieve success but also to recognize the right moment to open its next chapter," stated Baruch Parnes, founder of Skyline Cranes. "I believe the merger with High-Lift will allow it to continue developing on the same foundations and reach new scales."
Yaron Zaltzbacher, founder and CEO of High-Lift and Chairman of Skyline Cranes, added: "Skyline is an incredible company, the industry leader with exceptional people, deep professional knowledge, and a long-standing reputation. For us, this connection is far beyond expanding our service portfolio—it is a strategic move linking two complementary professional platforms, bringing us closer to our vision of a One Stop Shop for all vertical transportation needs on construction sites."
