Ackerstein's acquisition spree continues: buying control of wall cladding manufacturer from Tidhar
The Ackerstein Group is acquiring an 85% controlling interest in EcoWall from the Tidhar Group and other shareholders. The deal is valued at 47 million shekels, with EcoWall's total valuation at 55 million shekels.
The Ackerstein Group is acquiring a controlling interest (85%) in the company EcoWall from the Tidhar Group and other shareholders. Calcalist has learned that the consideration for the deal will be 47 million shekels, which will be paid to Tidhar, the company's CEO Ariel Fukotinsky, and the other shareholders. The deal values EcoWall at 55 million shekels. As part of the deal, Tidhar, which currently holds about 33% of the company's shares, will sell its entire stake. Fukotinsky will continue to serve as CEO and will remain a shareholder with a 15% stake. The completion of the deal is subject to customary conditions precedent, including approval by the Competition Authority. The agreement also includes an option that will allow Ackerstein to increase its stake to 100% of EcoWall shares in the future.
EcoWall, founded in 2020, develops and manufactures cladding solutions and finishing products for construction based primarily on porcelain granite. The company currently holds about 20% of the cladding market in Israel, having developed a cladding method that combines thermal insulation, durability, and design flexibility. According to the company, the method is an alternative to the Branovitz method, which was dominant in the industry for years and still holds about 70% of the market share today. This is a method where the building's cladding is created together with the skeleton walls. This method is considered cheaper, but according to EcoWall, it is also a method where more failures are recorded. EcoWall's technology was developed in 2023, and the company holds six registered patents. It operates a factory in Barkan with a production capacity of about 650,000 square meters per year. According to industry sources, the company is expected to record revenues of about 60 million shekels in 2026. Fukotinsky entered the construction industry after about 20 years of activity in the high-tech and software sector. The company's clients include large construction firms such as Tzemach Hammerman, Acro Real Estate, Tidhar, Ashtrom, and Geshem.
For Tidhar — which completed an IPO on the Tel Aviv Stock Exchange last month — this is a divestment of an investment in a company that is not at the core of its operations. Tidhar conducted the IPO at a pre-money valuation of 6.5 billion shekels and a post-money valuation of 8 billion shekels, while today its market value stands at 7.2 billion shekels. For Ackerstein, which operates in the fields of building materials, environmental development, and industrialized construction, this is a complementary activity to its existing business. Ackerstein, managed by Amit Lang, announced that it will finance the deal from its own sources. This is Ackerstein's second acquisition in less than two weeks. Ten days ago, the company reported the acquisition of control in another Israeli company in the field of environmental development, in a deal executed at a valuation of 55-75 million shekels. Both deals fit into the group's strategy to expand its operations through the acquisition of companies with a technological advantage and growth potential.
Ackerstein, controlled by the Ackerstein family, is engaged in the production and marketing of concrete products for environmental development, infrastructure, industrialized construction, and income-producing real estate. The company is traded on the Tel Aviv Stock Exchange at a value of about 2.5 billion shekels, after its stock jumped by about 114% in the last three years. However, since the beginning of the current year, the stock has remained almost static. The Ackerstein family holds about 67.5% of the shares of the company traded in Tel Aviv, with a current market value of about 1.7 billion shekels. The Ackerstein Group, which celebrated its 100th anniversary last year, operates three production sites in Israel — in Yeruham, in the Tzahhar industrial zone near Rosh Pinna, and in Ashdod — and three more in the USA. It employs about 600 workers and produces, among other things, protective structures, mobile MAMADs (protected residential spaces), industrialized construction housing units, concrete pipes, paving stones and curbstones, building cladding, street furniture, and concrete design products. Alongside its industrial activity, the group also holds income-producing real estate in the Herzliya Pituach complex.
