FIMI and Keter has sold Merhav Ceramic and Building to Nior Holdings Ltd.
Keter and First Israel Mezzanine Investors Fund (FIMI), the majority shareholders of Merhav Ceramic and Building Materials Center, Ltd. (Merhav), have successfully sold a 47.41% equity stake in the share capital of Merhav to Nior Holdings Ltd. for US$43 million.
Merhav was founded in 1950 and operates, through subsidiaries, in the manufacturing, importing, marketing and sale of designed products for bathrooms, toilets and kitchens. The company's main products are faucets, bathroom appliances, plumbing products and shower stalls.
Nior Holdings Ltd., founded in 1994 is an operating and holding company that focuses on the timber and roofing construction markets and bonded warehouse services.
FIMI is Israel's first dedicated buy-out and mezzanine fund. Keter is one of the world's leading manufacturers and marketers of plastic consumer products, and a global trendsetter in the do-it-yourself (DIY), household and garden products markets.
Oaklins' team in Israel acted as the exclusive investment bankers for Keter and FIMI in this transaction.
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