Israeli News Reports Hanita Sold for $75 M

August 30th, 2016 by Katherine Coig

According to an Israeli news report on YNet.com, Hanita Coatings, parent company for HanitaTek, has sold for $75 M* to an undisclosed publicly held American company that’s worth $6 billion USD. Kibbutz members hold 75 percent of Hanita’s shares, and Tene, a private equity fund specializing in group companies, holds the other 25 percent. Proceeds from the sale are expected to be split between the two.

The entrance to Hanita Coatings in Kibbutz Hanita, near the northern border of Israel.

The entrance to Hanita Coatings in Kibbutz Hanita, near the northern border of Israel.

Whoever the buyer is will have access to Hanita’s patented technology that allows the company to have high-quality solutions equivalent to sputtering (a process that applies an alloy coating to achieve superior film performance), but at a much lower cost. The technology allows the company to cover three to five meters per second, a rate much faster than sputtering.

The company has also been striking new deals with distributors across North America. In July 2016, they signed a deal with Kingston Coatings in Nashville, Tenn., as a south east central distributor. In August 2016, the company also signed a distribution agreement with Courage Distributing Inc. (Courage), a leading window film distributor in Canada.

Window Film magazine reached out to Hanita representatives regarding the validity of the report, and they declined to comment.

Stay tuned to windowfilmmag.com for further details as this story unfolds.

To read more on Hanita Coatings, click here.

*update

This article is from Focus on Film, the weekly e-newsletter that covers the latest news regarding window film and related products, including paint protection film. Click HERE to sign up—there is no charge. Interested in a deeper dive? Free subscriptions to Window Film magazine in print or digital format are available. Subscribe at no charge HERE.

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