Electra Expands Transportation Operations by Acquiring Control of Southern Israel Shuttle Company
Electra, through its subsidiary Electra Afikim, has acquired a 51% controlling stake in Mataylei Lahav, a shuttle company operating in southern Israel. The current owners, the Nessasra family, will retain the remaining shares, with Electra holding an option to purchase the rest later. The deal is valued at several tens of millions of shekels, estimating Mataylei Lahav's total worth at nearly 100 million shekels. Mataylei Lahav, based in Beersheba, operates over 200 vehicles including buses, minibuses, and vans, providing transportation services to the Ministry of Defense, schools, companies, and factories in the southern region. Its annual revenue is approximately 100 million shekels.
This acquisition marks Electra's second expansion in the shuttle sector, following its purchase of a controlling stake in Merkava Shasim near Petah Tikva about two years ago, a company with annual revenues around 40 million shekels. Electra entered the transportation and public transit market in 2021 by acquiring 51% of Afikim for 75 million shekels, later rebranding the company as Electra Afikim. That same year, Electra Afikim bought 100% of Egged Taavura from Egged for 139 million shekels. Currently, Electra Afikim operates approximately 280 public transit lines with 1,250 buses and serves over 100 clients in the shuttle sector.
Electra Afikim recently won a tender to operate a light rail line connecting Haifa and Nazareth, with construction expected to begin soon after financial closure. In September, Electra partnered with the Tashia Fund, which acquired a 33% stake in Electra Afikim for 250 million shekels, valuing the company at 750 million shekels. Following this, Electra's ownership will decrease from 51% to 33%, with founder Amnon Sela holding the remaining 33%.
Electra Afikim's shuttle operations, including Mataylei Lahav, fall under Electra's Operation, Service, and Maintenance division, the company's second-largest revenue segment. In Q1 2026, this division generated 876 million shekels, representing 23% of Electra's total revenue. Although smaller than Electra's largest segment, contracting in Israel with 2 billion shekels in revenue, the Operation, Service, and Maintenance division boasts the highest operating profit margin at 8% for the quarter.
