At the height of the collapse of the Alovitz group, control was transferred to the institutional investors, who took a company that hardly existed and created amazing value. In the next four years, the company is expected to increase its production capacity and revenues, and will have to prove its capabilities
The collapse of Shaul Elovitchs group of companies created a political and business turmoil. Various groups identified the opportunity to take control of the holding company in Israel at a relatively small investment, by acquiring Eurocom, Internet Gold ( 99.28 -0.32% ) or B-Com ( 2,876 + 0.17% ) . Bezeq ( 388.7 -1.09% ) .
Renewable energy company Enlite ( 190.7 + 0.32% ) , also part of the Alovitz group, has operated over the years under the radar, and it is doubtful whether the public is aware of its existence. Accordingly, the sale of Eurocoms controlling interest (14.8%) and the Weil familys 5.7% stake in early May to institutional investors went almost unnoticed. The deal was the most similar thing to the transfer of control in the management buyout company, even though the trio who led Enlight - CEO Gilad Yavetz, VP Marketing, Sales and Business Development Zafrir Yoeli and Operations VP Amit Paz - And hold only 4.7% of the Company and 6.4% of it on a fully diluted basis, that is, taking into consideration the options allocated to them.
The institutional investors sang when Majorcom and the Weil family did not initiate a replacement of the board of directors and management, and the appointment of new chairman Yair Seroussi, former chairman of Bank Hapoalim, was proposed by the current board of directors, not by the new shareholders.
A look at Enlights share since it became a public company eight years ago clearly explains why institutional investors expressed confidence in Yavetz, Yoeli and Pazs ability to create value for them in the future. Analyst is currently trading at NIS 954 million, 35 times its value at the end of June 2010, which means that its market capitalization has grown at an annual rate of 57%, and those who invested in Analit on the same day posted a return of 579% on its money, Which yielded a TA-90 ratio.
These are not bad figures for a company established in 2008 by three salaried employees at an investment of NIS 50,000. Yavetz was then VP of Marketing and Sales at BVR, which deve