Apax Israel Accuses Ex-Executive of Stealing Trade Secrets in Vet Clinic Deal
Translated & summarized from Globes by baba
Apax Israel has accused former executive Erez Nachum of stealing trade secrets to acquire a controlling stake in the veterinary clinic chain "Haverim." The accusation comes amid a bitter legal battle between Nachum and Apax head Zehava Kohen, who Nachum is suing for alleged harassment. Nachum's new fund, Leox, partnered with The Phoenix to acquire "Haverim" for 240 million shekels. Nachum's team denies the claims, calling them "absurd" and part of a personal vendetta.
The story in 6 lines · by baba
- Apax Israel accuses ex-executive Erez Nachum of stealing trade secrets in a "Haverim" vet clinic deal.
- Nachum's new fund, Leox, acquired a controlling stake in "Haverim" for 240 million shekels.
- The acquisition was made with The Phoenix insurance company, which invested 180 million shekels.
- Nachum is suing Apax head Zehava Kohen for alleged harassment and humiliation.
- Kohen claims Nachum plotted to replace her and was fired for professional failures.
- Nachum's representatives deny the allegations, calling them "absurd" and a "personal revenge."
Apax Israel, led by Zehava Kohen, has accused its former number two executive, Erez Nachum, of stealing trade secrets to facilitate his acquisition of a controlling stake in the veterinary clinic chain "Haverim." The investment fund sent a letter to Nachum, his new investment fund Leox, and other parties involved in the deal, including The Phoenix insurance company, alleging the acquisition was based on "theft of commercial secrets." Apax claims Nachum leveraged his knowledge of the veterinary sector, gained during his tenure and as a director at Apax's subsidiary "Havot Da'at," which operates in the same field, to secure the deal shortly after his departure.
The acquisition, valued at 240 million shekels, saw Leox purchase 85% of "Haverim" from its founder, Dr. Erez Zaituni. Nachum was appointed chairman of the chain, with Dr. Zaituni remaining CEO. The Phoenix insurance company joined Leox in injecting 180 million shekels into the chain to fund expansion, further acquisitions, and staff recruitment. The deal also included the purchase of emergency veterinary clinics in Rosh Ha'ayin and Haifa, with plans for more.
This legal confrontation stems from a bitter dispute between Kohen and Nachum. Nachum sued Kohen and Apax Israel earlier this year for alleged harassment and humiliation during his time at the fund. He claims he was subjected to a personal vendetta after complaining about Kohen's alleged abusive management style, which he described as creating a constant atmosphere of fear. Nachum is seeking 10 million shekels in damages and proprietary rights to 20 million shekels in fund profits.
In its defense, Kohen alleged that Nachum plotted to replace her and was fired due to professional and credibility failures. She claims he acted aggressively when confronted and later attempted to undermine her position with global Apax leadership. An external investigation, however, reportedly dismissed claims of harassment against Kohen, though opinions were divided on whether her raised voice constituted "shouting."
Nachum's camp vehemently denies the accusations, calling them "absurd claims" reflecting panic and a continuation of Kohen's personal revenge. They assert that the truth will emerge in court and that Nachum is determined to make "Haverim" the leading pet care group in Israel, with plans to expand to 60-70 locations and enter the pet medicine and food sectors.