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Viola invests $27m in Degania Silicone

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Saturday, December 4th, 2010

As reported in IV C:

Viola acquired 40% of the kibbutz company, which produces silicone catheters.

Viola Private Equity has invested in Degania Silicone Ltd., a manufacturer of of high-quality silicone products, controlled by Kibbutz Degania B. The investment was the latest in a series of deals for kibbutz companies, following the sale of Shamir Optical Industries Ltd. (Nasdaq: SHMR; TASE: SHMR) to France’s Essilor International S.A. (Euronext: EI).
Viola acquired 40% of Degania Silicone for $27 million, giving a company value of $68 million (NIS 243 million), after money. Most of the shares were bought from Kibbutz Degania B, which will report a large capital gain, and will own 36% of the company after the sale.

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