Realizing Potential in Israel's Growth Industries


NEWS

SCR, the global leader in cow monitoring technologies, was sold to the Allflex Group.

Tel-Aviv, January 19, 2015Tene Investment Funds II, an Israeli PE fund, led the sale of 100% of the shares of SCR to the Allfex Group at a valuation of $250 million (EV). Tene held a controlling stake in the company, along with the company founders.

SCR Engineers Ltd develops, manufactures and markets advanced systems for monitoring cows, and innovative solutions for farm management. SCR has been leading the development of monitoring technologies for dairy cows, sheep and goat for more than a decade. The Company’s significant growth historically has been driven by the increasing need for productivity gains for dairy farms and growing concern over animal well-being.

The Allflex Group is a worldwide leader in the field of animal identification and tracking tags. Allflex is owned by funds advised by BC Partners. The Group views the acquisition as highly strategic, bringing considerable experience and unprecedented technological advantages for the benefits of farmers around the world.

Tene II made the initial investment in SCR in 2009, and over time reached a controlling position in the company. Together with the company founders who pioneered the technology, and the company's talented management, Tene led the company in a growth and 'go to market' strategy thus positioning SCR as a unique, global leader in its sector.

Dori Brown, the managing partner who led the investment in SCR, said: "SCR is on the cutting edge of herd monitoring technologies. The company has developed an outstanding technology that significantly increases the productivity of global dairy farming, by increasing herd health and wellbeing. I am proud to have been a part in SCR's outstanding global success. Partnering SCR and Allflex bears a strategic importance not only for the two companies but also carries a message to the entire industry."

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

Among others the fund's portfolio includes investments in Gadot Chemical Tankers and Terminals – Israel's most prominent player in sales, distribution and logistics of chemicals; and Gazit Industries – a leading manufacturer of extruded plastic products and acrylic boards. Some of Tene's well-known exits include the sale of Netafim – the world pioneer in drip irrigation, to Permira in 2011, and the Nasdaq IPO and SPO of Caesaerstone (NasdaqGS:CSTE) – a global leading manufacturer of high quality engineered quartz surfaces. For more information regarding the fund please see www.tenecapital.com

 

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