Portofino served as the exclusive sell-side investment banker in the sale of 50% of Sa'ar A.T Enterprise & Trade for an amount of $26 million to Electra Consumer Products.
AT A GLANCE
Portofino served as the exclusive sell-side investment banker in the sale of 50% of Sa'ar A.T Enterprise & Trade for an amount of $26 million to Electra Consumer Products. The transaction structure included an investment into Sa'ar in exchange for newly issued shares, as well as the acquisition of shares, based on a company valuation of $40 million.
THE ACQUIRER
Founded in 1951, Electra Consumer Products is a publicly traded company, and one of the leading firms in Israel in the field of home appliances, air conditioning and other consumer products. Electra is engaged in manufacturing, importing, marketing and providing services for a wide range products and has an annual turnover of c. NIS 2.5 billion and c. 1,600 employees.
THE TARGET
Sa’ar is an importer and manufacturer of equipment and clothing for traveling, camping, outdoor sports and leisure, and holds the concession in Israel for the global brand – Colombia. Sa’ar operates 3 retail chains and a total of 34 branches: the Columbia chain for hiking and leisure fashion which has 17 branches, the Outsiders chain which has 8 branches, and the Shvilim chain which has 9 branches.
Sa’ar is a supplier of the IDF and other Israeli security agencies, as well as government ministries and private companies operating in the security sector. Sa’ar also sells its products to stores and chains throughout the country and operates two E-commerce sites, Colombia and Outsiders.