Ackerstein Group Expands Building Cladding Business by Acquiring EcoWall Control

The Ackerstein Group announced on Monday its agreement to acquire an 85% controlling stake in EcoWall, a company specializing in building cladding solutions and finishing products, for approximately 47 million shekels in cash. The shares will be purchased from Tadmor Group, EcoWall CEO Ariel Pokotinsky, and other shareholders. Pokotinsky will continue to manage EcoWall and retain a 15% stake after the deal closes. The acquisition will be funded from Ackerstein's own resources and EcoWall will be consolidated into Ackerstein's financial statements upon completion. The agreement is subject to customary conditions including approval from the Israeli Antitrust Authority and includes an option for Ackerstein to increase its stake in the future.

Founded in 2020, EcoWall focuses on cladding systems based on granite porcelain, combining thermal insulation, high durability, design flexibility, and cost savings. The company holds six registered patents and operates a manufacturing plant in the Barkan Industrial Zone with an annual production capacity of about 650,000 square meters. Ackerstein sees this acquisition as a strategic move to broaden its product offerings beyond its traditional concrete products for infrastructure, paving, and environmental development into the building finishing and cladding sector.

Ackerstein Group develops, manufactures, and supplies concrete products for environmental development, construction, and infrastructure. It also holds income-producing real estate and industrial land. The group operates 18 factories across three production sites in Israel (Yeruham, Ashdod, and Tzahar Industrial Zone in the north) and three factories in the United States. Listed on the Tel Aviv Stock Exchange since May 2021, Ackerstein has a market capitalization of about 2.5 billion shekels. The group is majority-owned by members of the Ackerstein family, led by Chairman Giora Ackerstein, with holdings by Clal and Harel investment firms.