Maytronics confirms talks to sell control to FIMI and raise 300 million shekels

Maytronics has confirmed in a report to the stock exchange that it is in negotiations to raise 300 million shekels in capital. The report also confirms initial talks regarding the sale of control to the FIMI fund. FIMI, managed by Ishay Davidi, has been granted exclusivity for a short period. As a matter of policy, the fund only negotiates acquisitions when it holds exclusivity and is not competing with other entities.

Kibbutz Yizre'el has relinquished control of Maytronics following a collapse in the company's valuation from 9.1 billion shekels to just 187 million shekels. Maytronics is seeking to raise funds to reduce its 600 million shekel bank debt and to develop a new factory in a lower-cost country, replacing its expensive production operations in Israel. The company reported a loss of 222 million shekels in 2025.

Maytronics is currently managed by Rafi Ben-Ami, who took the helm at the beginning of the year, replacing Sharon Goldenberg. During Goldenberg's tenure, the company's value plummeted from 9 billion shekels to half a billion. While Maytronics was once a market leader, capturing 50% of the global market for pool-cleaning robots, it has struggled post-pandemic with declining sales, inventory surpluses, and fierce competition from low-cost Chinese manufacturers.

The company's strategic plan involves shifting production abroad, strengthening online commerce, and moving toward a direct-to-consumer sales model. The entry of an investor like FIMI could serve as a vital lifeline for the company.