Leumi Partners Invests NIS 33 Million in Isotest Laboratory Acquisition

Leumi Partners, the real estate investment arm of Bank Leumi, has joined the IPE investment fund in acquiring Isotest Laboratories. Leumi Partners is investing NIS 33 million in the deal, which values Isotest at NIS 200 million. IPE purchased a 51% stake in Isotest for approximately NIS 100 million.

Isotest is one of Israel's oldest companies specializing in laboratory testing and quality control for the construction and infrastructure sectors. The company operates five branches nationwide and employs around 310 workers. It offers over 700 types of tests and laboratory services in construction, infrastructure, and geotechnical fields.

Abraham Dai, who acquired Isotest in 2014 for just NIS 1 million through a debt arrangement, will retain a minority stake and continue managing the company. The IPE fund is managed by Lior Hami, while Leumi Partners is led by Victor Vart.