Tene Investments Funds Invests in Ortal
Tel-Aviv, 27 September 2016 – Tene Investment Funds III has acquired a 50% stake in Ortal, a leading manufacturer and distributer of high-end fire places. The remaining 50% of the Company is owned equally by the founders Tal and Ilana Gross. Tene's investment in Ortal will support the company's global expansion.
Ortal was founded in 1986 and is a manufacturer and distributer of high-end fireplaces, mainly in North America, Europe and Israel. Ortal offers both modern and traditional product lines of direct-vent, gas-fired fireplaces in a wide variety of designs and sizes. The company's products include an advanced range of features such as Double Glass, Protective Screen, Cool Wall and various sophisticated ventilation solutions. Ortal's products are well known for their modern and contemporary sleek design.
Tene has confidence that Ortal is poised to experience significant growth in the United States and Europe, building on its rapid expansion over the last few years. Dr. Ariel Halperin, Tene's Senior Managing Partner, stated: "Together with our partners we look forward to be a part of Ortal's global growth. I believe in Ortal's potential to continue differentiating itself based on both its outstanding designs and its innovative technology."
Tene Investment Funds is an Israeli private equity fund focused on investment in Israeli industrial companies. Tene invests in established, export and growth oriented companies with leading global market positions.