Altshuler Shaham Investment House leads a group of institutional investors, which will get a 20 % -25 % stake in the KSP computer and retail chain. The share will be obtained in the company’s evaluation of 2.3 billion NIS. The negotiations related to the deal were believed to be in an advanced stage, and if the founders of KSP Zev Sorkin and Yaakov Prilock are completed, they will sell shares up to 580 million NIS.
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Just two months ago, the retail chain owners were in talks to sell a 25 % stake for institutional investors to evaluate the company for less than 2 billion NIS, but in particular strong financial results for 2024, strengthened the hand of Sorkin and Prilock.
KSP 63 has stores around Israel, including five stores in Eilaat, where products can be purchased without VAT, to AFULA, Nof Hagalil and Haifa Bay in the north. Like other retail stores, the series benefited over the past year, as the Israelis preferred not to travel abroad because of the expensive cost of air.
The series opened its first stores 20 years ago in the Hadar area in Haifa. The name of the chain stems from the names of the biographies of the three founders – Corin, Sorkin and Brailuk. KSP started as a store importing computer components. Later, Corin left the partnership. The series expanded to collect and sell computers themselves, then sell peripheral devices and smartphones. In 2010, the company began to expand in other areas that were not linked to computers. Today, he is a retail seller who provides a wide range of home improvement products, as well as cosmetics, watches, clothes, lighting, home and garden accessories, and more. In addition to its material stores, KSP also runs a sales site.
Double number
During the large wave of subscriptions in 2021, Sorkin and Prilock considered the public subscription equivalent to the company’s evaluation of 1.4-1.5 billion NIS based on their annual net profit estimated from 80 to 100 million NIS, after strong results during the Covid. If the planned private position with institutional investors is completed, the option of public subscription will be outside the agenda until at least 2026-2027.
Posted by Globes, Israel Business News – En.globes.co.il – on February 5, 2025.
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