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NEWS

Tene Investment Funds acquires Gadot Chemical Tankers and Terminals Ltd.

Tel-Aviv, 29 April 2014 – Tene Investment Funds Completed the acquisition of 100% of the shares of Gadot Chemical Tankers and Terminals LTD. Founded in 1959, Gadot is a leader in transport, storage, blending, tolling, procurement and distribution of liquid chemicals, oils and chemicals' raw materials. The company's headquarters are in Netanya, Israel, and it operates several facilities in Israel, Belgium, the Netherlands and Germany.


Gadot covers a wide range within the global chemical industry supply chain: sales and distribution of chemicals (commodity and specialty); chemical logistics, including operating chemical terminals, blending, tolling, warehousing, trucking, freight forwarding and value added logistics; and marine freight of liquid bulk chemicals. Gadot's Agro division sells and distributes agricultural products, including crop protection products, bio-pesticides, fertilizers, and seeds. Among Gadot's customers are the majority of Israel's industrial companies, and the world's largest chemical companies.

Mr. Motti Levin will be appointed as CEO of Gadot, and will replace Mr. Yair Dar, who was appointed interim-CEO, in October 2013. Motti Levin brings along a wealth of managerial experience, previously serving as Managing Director at UTi Logistics ISRAEL Ltd., CEO of Maman and CEO of Arava Export Growers, as well as holding various executive positions in major industrial companies such as Netafim and ICL (Israel Chemicals LTD).

Gadot is the first investment in Tene's new fund, Tene III. Tene Investment Funds purchased Gadot as part of a tender process from Israel Discount Bank. The bank took possession of the company in December 2012, from the previous shareholder, AMPAL Group, in order to recover the loan the bank gave Ampal to acquire the company in 2007-2008.

Tene's Senior Managing Partner and Gadot's newly appointed Chairman of the Board, Dr. Ariel Halperin, stated: "We are very excited to begin our joint journey with Gadot. Gadot is a major participant in the continued success of the Israeli industry, which is at the core of Tene's investment strategy. We at Tene are looking forward to working hard with the company and its management, and helping Gadot cement its leading market position in Israel and globally."

Tene Investment Funds is an Israeli PE fund focused on investment in Israeli industry. Tene invests in established, export and growth oriented companies with leading global market positions.

Among others the funds' portfolio includes investments in Netafim – the world leader in drip irrigation systems (sold to Permira, 2011), Caesarstone – the pioneer and global leader in engineered-stone (quartz) surfaces (Nasdaq IPO, 2012-2013), and SCR Engineers – a global provider of innovative electronic and computerized dairy farming systems. For more information regarding the fund please see www.tenecapital.com

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