HighLift Acquires Crane Company Skycrane for $70 Million

HighLift, a company specializing in construction site cargo elevators, has acquired a controlling stake (75%) in the crane company Skycrane for NIS 255 million (approximately $70 million). The deal sees HighLift purchasing the majority shares in Skycrane, which operates in the tower and lifting crane sector for construction contractors, from its founders Baruch and Guy Perens and Aviv Carmel.

Skycrane concluded 2025 with revenues of approximately NIS 172.4 million and a net profit of around NIS 21.5 million. To finance the acquisition, HighLift secured an investment of NIS 67 million from an institutional entity, which will receive a 20% stake in HighLift, valuing the company at NIS 270 million before the investment. The institutional investor also provided HighLift with a NIS 40 million loan, partially convertible into up to 7.5% of HighLift's shares.

The entry of the institutional investor signifies a substantial valuation increase for HighLift's existing shareholders: founder and CEO Yaron Zaltzberg and the public infrastructure company Alma Yissudot, controlled by Yitzhak Mirilashvili. This comes after Alma Yissudot acquired approximately one-third of HighLift's shares in 2021 at a valuation of about NIS 95 million, indicating a near threefold increase in the company's value.

Following the transaction, the institutional investor will hold about 20% of HighLift, Alma Yissudot will hold approximately 27%, and HighLift's founder and CEO, Yaron Zaltzberg, will retain the remaining 53%. HighLift stated that this move will enable it to expand and strengthen its operations in vertical transportation and equipment rental for the construction industry.