FIMI in talks to buy 50% of defense co Marom Dolphin

Israeli private equity firm FIMI Opportunity Fundsled by founder and CEO Ishai Davidi, is about to acquire a 50% controlling stake in the Israeli defense company Marum Dolphin. The company, which develops and manufactures tactical carrying solutions for the armed forces, has benefited from increasing orders from the IDF since the beginning of the war.

The deal is expected to reflect the company's NIS 250-300 million valuation for Marom Dolphin, with several private investment firms vying to buy the stake. However, FIMI usually reaches advanced talks for an investment of this type, if there is no bidding war with competitors.

For more than 30 years, Marom Dolphin has been developing tactical equipment for combat forces. Based in the Alon Tabor Industrial Park in the Jezreel Valley in northern Israel, the company was founded by Yariv Sagi, Oded Brosh and Ilan Gurion, former commandos in the Israeli army, who can now expect to earn NIS 150 million from the exit.

The company's products include advanced vests, helmets, tactical armor, tactical cameras and even robotic systems for heavy loads. The company supplies these products to the IDF including special units, the Israel Police and Border Police as well as to customers abroad including militaries in Western Europe and Asia. Investors have been keen to buy a stake in the company since the outbreak of the Russia-Ukraine war in 2022.

FIMI has already taken control of several companies in the defense industry including Ashot Ashkelon, Orbit, ImageSat, TAT Technologies as well as Bet Shemesh Engines.

Published by Globes, Israel Business News – en.globes.co.il – on May 29, 2024.

© Copyright Globes Publisher Itonut (1983) Ltd., 2024.