Amiad Filtration Systems, a producer and global supplier of automated water filters and filtration systems for the industrial, municipal and irrigation markets, announced that it has completed the acquisition of Arkal Filtration Systems from its existing shareholders, Kibbutz Beit Zera, including its affiliated corporations (Beit Zera) and Bermad Industries.
The agreement was finalized following bank approval and was satisfied (as previously stated) for $10 million in cash and the issue of new ordinary shares of 0.5 NIS, equal to 14.5% of Amiad’s issued share capital (on a fully diluted basis).
Through this acquisition, Amiad expects that the addition of Arkal’s product range and sales and marketing infrastructure will considerably strengthen its global market share in the irrigation, industrial and municipal water filtration industries, as well as expand its reach into new strategic markets.
“This is a defining moment for our company, establishing our position as a global leader in the water filtration market,” said Arik Dayan, CEO of Amiad. “We are looking forward to incorporating the experience and success of Arkal into our team at Amiad and I believe that the joined technologies of the two companies will prove to be a significant benefit for our customers and will greatly enhance our R&D capabilities.”
The new ordinary shares will hold equal weight with Amiad’s existing ordinary shares in issue.
Source: Amiad Filtration Systems
