Tower crane co Skyline in NIS 340m exit

ILift, a provider of hoists for building sites, has acquired a 75% controlling stake in tower crane company Skyline Cranes and Technologies for NIS 255 million, valuing Skyline at NIS 340 million. The deal was made with Skyline founder Baruch Parnas. ILift also secured a NIS 67 million investment from a financial institution and a NIS 200 million loan from Bank Hapoalim.

ILift, a provider of hoists for building sites, has acquired a 75% controlling stake in tower crane company Skyline Cranes and Technologies for NIS 255 million, valuing Skyline at NIS 340 million. The stake was purchased from Skyline's founder and chairperson, Baruch Parnas. ILift is controlled by its CEO Yaron Sulzbacher and public company Alma Yesodot, which is controlled by Yitzchak Mirilashvili. In 2025, Skyline reported revenue of NIS 172.4 million and a net profit of NIS 21.5 million. To finance the acquisition, ILift signed an agreement with a financial institution that will invest NIS 67 million in return for 20% of its shares, valuing ILift at NIS 270 million pre-money. The institution also lent ILift NIS 40 million, part of which is convertible to up to 7.5% of shares. Additionally, ILift secured a NIS 200 million loan from Bank Hapoalim, repayable over 7.5 years. The investment represents a significant value increase for Sulzbacher and Alma Yesodot, as Alma Yesodot bought a third of ILift shares in 2021 at a pre-money valuation of NIS 95 million, meaning the company's value has almost tripled. Parnas stated that joining with ILift will enable Skyline to continue developing and reach new proportions. Sulzbacher described Skyline as the leading company in its sector and said the move is a strategic step connecting two complementary platforms.