Baran Group Acquires Control of Bar-El 27 for $9.5 Million
Translated & summarized from Ice by baba
The story in 5 lines · by baba
- Baran Group acquired 75% of Bar-El 27 for NIS 35 million.
- Bar-El provides concrete solutions for infrastructure and security.
- The acquisition strengthens Baran's industrial production capabilities.
- Baran aims to diversify revenue streams with this purchase.
- Bar-El was founded in 2019 and operates in northern Israel.
The Baran Group announced Thursday the completion of its acquisition of a 75% controlling stake in Bar-El 27 for NIS 35 million (approximately $9.5 million). Bar-El founder Eli Bar-El will retain the remaining 25% ownership.
Bar-El specializes in the design and manufacturing of precast concrete elements and engineering solutions for infrastructure, protection, and security sectors. The acquisition integrates industrial production capabilities into the Baran Group, complementing its existing expertise in planning, management, and project execution. This move aligns with Baran's strategy to offer end-to-end solutions, from initial design to component manufacturing and supply.
Baran Group CEO Itzik Frank stated that the acquisition is a strategic step to diversify revenue streams through product-based activities independent of project cycles. He highlighted that Bar-El's production capabilities enhance the group's offerings in infrastructure, protection, and security, and sees potential for synergy between Bar-El and other Baran Group operations. Frank added that the group will support Bar-El's growth while continuing to develop its own activities.
Founded in 2019, Bar-El designs and custom-manufactures concrete products for infrastructure and protection, including communication and utility vaults, pipes, foundations for lighting poles, protected spaces, defensive walls, and security posts. The company operates two subsidiaries, two self-compacting concrete production machines, and two facilities in northern Israel covering approximately 14 dunams (3.5 acres).
The Baran Group, established in 1979 and publicly traded on the Tel Aviv Stock Exchange since 1992, provides comprehensive engineering solutions globally. The company operates in sectors including infrastructure, energy, innovation, water, nanotechnology, agriculture, industry, security, and construction. It employs around 900 people, with over 600 based in Israel.
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