Israel's largest engineering company in a massive deal: acquiring operations for millions
The largest engineering and project group in Israel will pay 35 million shekels for 75% of the shares of Bar-El 27 Industries, with the aim of expanding its industrial activity and diversifying the group's revenue sources.
The Baran Group, the largest engineering and project management company in Israel, announced the acquisition of 75% of the shares of Bar-El 27 Industries for 35 million shekels. The deal will be financed from Baran's own resources and is intended to expand the group's industrial activity and diversify its revenue sources with stable products that do not depend on project cycles.
Bar-El, founded in 2019 and operating from two sites in the north of the country, specializes in the design and production of custom-made precast concrete elements. The company's products are focused on the fields of infrastructure, security, and protection, and include, among other things, protected residential spaces (MAMAD), protective shelters, protective walls, sentry posts, trenches, and communication manholes.
The company's founder, Eli Bar-El, will continue to hold 25% of the shares, will remain a partner, and will continue to lead the company. At Baran, they estimate that the acquisition will create a clear operational, commercial, and financial synergy with the rest of the group's activities in Israel.
Itzik Frank, CEO of the Baran Group, noted that the deal is a significant step in implementing the group's growth strategy:
"Bar-El brings with it industrial capabilities, knowledge, and experience in the fields of infrastructure, protection, and construction. We see significant potential for synergy and believe that combining Baran's capabilities will support its continued growth in the coming years."
