Dan Transportation Acquires Masei Shasha for $180 Million

Dan Transportation has signed a memorandum of understanding to acquire Masei Shasha for 180 million shekels (approximately $49 million USD). Masei Shasha operates around 200 vehicles and generates an annual revenue of approximately 200 million shekels (approximately $55 million USD). The company is a major player in the private transportation sector, serving clients such as the Ministry of Defense, the Israel Electric Corporation, and other government companies.

This acquisition marks the first major deal for Ofir Karni, who led the investor group that recently acquired a 48.8% stake in Dan Transportation, with an option for an additional 26%. The deal values Dan at approximately 2.8 billion shekels (approximately $765 million USD).

Masei Shasha, founded 47 years ago and managed by Aryeh Shasha, joins other companies under Dan Transportation, including Jac Yuliusi and United Tours, solidifying Dan's position as a leading private transport provider. The company had previously explored an IPO but withdrew after facing allegations of bid-rigging with local authorities and private firms.

Dan Transportation is active primarily in central and southern Israel. It is involved in constructing Jerusalem's "Blue Line" light rail with the JTRAIN group and operates the "Fast Lanes" on Highway 1 in Tel Aviv, with a second section expected to open soon.