The M&A department of Erdinast, Ben Nathan, Toledano & Co. has a vast experience and great expertise in handling complex cross-border transactions in various industries. We are extremely active in the Israeli M&A market and were recently awarded the 2017 Israel M&A Legal Adviser of the Year award by Mergermarket.
Our team consists of some of Israel’s leading corporate lawyers, several of whom practiced in leading US law firms. Our team members are consistently recognized by major international and notable local legal guides, such as Chambers and Partners, Legal 500, The European Legal 500, IFLR1000, D&B and BDI.
We advise reputable clients on many of the market-leading acquisitions, including clients in both the private and public sector, and in tech related fields and “old industries”. Our M&A team has extensive experience in all types of complex M&A transactions, including acquisitions of shares and assets, going private transactions, leveraged buyouts, divestitures, spin-offs, tenders, take-over bids, restructuring, reorganizations and recapitalizations.
We act as lead counsel in domestic and international transactions for prominent Israeli and multinational corporations, private equity and venture capital funds, banks and financial institutions. We also serve as local counsel to leading international law firms in their Israeli transactions. In addition, we handle midsize transactions, including acquisitions and dispositions of assets, strategic investments, joint ventures and other collaborations.
We strive to create a tailor made legal strategy for each transaction we handle, so as to fully satisfy and reflect the business objectives of our clients, while ensuring a swift and seamless completion of the transaction. Our knowledge of applicable law together with our deep understanding of the Israeli business environment, enables us to efficiently provide our clients with coordinated legal advice in multiple areas of the law, throughout all the stages of the transaction, starting from the initial corporate structure and tax planning, negotiations, financing, due diligence, shareholders’ arrangements, through to regulatory and governmental filings, consents and approvals.
In recent years, we have been engaged in many high-profile and complex M&A transactions, such as:
- Representation of the private equity firm, Hellman & Friedman, in the purchase of the Israeli cyber security company, Checkmarx Ltd., in consideration of USD 1.15 billion
- Representation of the XIO Group in the sale of Lumenis Ltd. to BPEA fund in consideration of more than US$ 1 billion.
- Representation of Taavura Holdings Ltd. and Livnat Family in a purchase transaction of the controlling stake in Taavura.
- Representation of Tosca Services, LLC, a US based company, in the acquisition of Polymer Logistics.
- Representation of US company 1-800 Contacts, in the purchase of the Israeli startup 6over6 Vision Ltd.
- Representation of Carasso Motors Ltd., in the acquisition of 100% of Cal Auto, through the assumption of all its financial liabilities, valued at approximately NIS 1 billion.
- Representation of APAX in a share purchase transaction of SR Accord Ltd. for an amount of approximately NIS130 million.
- Representation of Blue Square Real Estate Ltd., in the purchase of the remainder of the holdings (50%) in the TLV Fashion mall, at a value of approximately NIS 450 million
- Representation of David Shield, travel and health insurance agency, in a complex process for the establishment and registration of a new insurance company.
- Representation of Taavura Holdings Ltd. and the Allied Group, in the acquisition of the entire holdings of EL AL Israel Airlines Ltd. in Maman – Cargo Terminals & Handling Ltd.
- Representation of Permira in the sale of all of its holdings (approximately 61%) in the iconic drip irrigation pioneer Netafim, to Mexichem, a Mexican public company, for US$1.9 billion.
- Representation of Sirius Group in the NIS 2 billion contemplated acquisition of The Phoenix Insurance Company Ltd., one of Israel’s largest insurance companies.
- Representation of Mizrahi Tefahot Bank in the NIS1.4 billion contemplated merger of Union Bank of Israel, the country’s sixth largest bank, with and into Mizrahi Bank.
- Representation of XIO Group, a global private equity firm, in the acquisition of Lumenis Ltd., an Israeli medical device company which develops surgical, ophthalmology and aesthetic applications in consideration for approximately US$514 million.
- Representation of XIO Group, in its proposed acquisition of Meitav Dash, a leading Israeli investment house, for NIS1.8 billion.
- Representation of Horizon Pharma plc in the acquisition of Hyperion Therapeutics, Inc. for approximately US$1.1 billion.
- Representation of Ferro, an American company, in Ferro’s acquisition of the entire share capital of Dip Tech Ltd. a private Israeli company, which is engaged in digital printing solutions for the global flat glass industry, for approximately US$80 million.
- Representation of Gebr. Heinemann, who together with James Richardson, won the tender issued by the Israeli Airport Authority to operate duty free shops (LTPCC) in Terminal 3 and Terminal 1 at Ben Gurion Airport.
- Representation of the leading global venture capital funds Magma Venture Partners, Horizons Ventures, DFJ Venture Capital, Trilogy Equity, Iris Fund, and DFJ Tamir Fishman in a US$200 million divestiture of their portfolio company Hola Networks to EMK Capital Partners LLP, a UK private equity fund.
- Representation of Tene funds in the sale of 100% (together with all other shareholders) of the Israeli-based dairy herd specialist, S.C.R. (Engineers) Ltd., to Allflex Group, in consideration for US$250 million.
- Representation of Tene in the NIS150 million acquisition of 60% of the share capital of Sharon Laboratories Ltd., a global manufacturer and industry leader in the fields of development, production and marketing of preservatives for the food and cosmetics industries.
- Representation of Tene in the US$130 million acquisition of a substantial stake in Caesarstone Ltd., a leading Israeli manufacturer traded on NASDAQ.
- Representation of Israel Oil and Gas Fund, owned by Mr. David Wiessman, in the acquisition of the Israeli gas station chain, Sonol Israel Ltd., from Azrieli Group Ltd., in consideration for NIS364 million.
- Representation of ExtraHoldings (controlled by Mr. Moti Ben Moshe) in the acquisition of a controlling stake in Blue Square, a holding company operating in the field of real estate, energy and others, for NIS1.2 billion, which included the delisting of Blue Square from the New York Stock Exchange, and establishing a complex large-scale creditor’s arrangement.
- Representation of Lockheed Martin Corp in a US$4.6 billion structuring transaction to separate and effect a merger of its realigned Information Systems & Global Solutions business segment with Leidos Holdings, Inc. (NYSE: LDOS) in a Reverse Morris Trust transaction.
- Representation of Clal Industries Ltd., in the NIS138 million sale of its indirect minority shareholdings in Israel Shipyards Ltd. to its controlling shareholders, one of which is a publicly traded company in Israel.
- Representation of Nesher Israel Cement Enterprises in the divestiture and sale of its Har-Tuv cement manufacturing plant.
- Representation of Mediterranean Car Agency Ltd. in the acquisition of the Iveco, Chrysler and Subaru vehicles’ importation businesses.
- Representation of Access Industries in a reverse triangular merger of its subsidiary with Clal Industries Ltd. in consideration for approximately US$350 million.
- Acquisition of a controlling stake of 33% in Partner Communications by Saban Capital Group in consideration for US$400 million.
- Representation of EndoChoice, a US-based gastrointestinal endoscopy company, in a merger with Peer Medical Ltd., an Israeli endoscopic start-up, involving a substantial equity investment by Sequoia Capital, in a transaction valued at US$150 million.
- Representation of ProSiebenSat.1 Media AG, the largest TV operator in Germany and one of Europe’s leading media companies, in the acquisition of July August Communications and Productions Ltd., a leading Israeli production company.