The Israeli equity fund FIMI purchase 100% of the shares of G4S Israel in December 2016.
The Israeli equity fund FIMI signed an agreement of NIS 400 million with the British company G4S to purchase 100% of the shares of G4S Israel in December 2016.
G4S Israel is the largest security company in Israel with over 7000 workers and yearly revenues of some NIS 800 million.
FIMI is the largest investment fund in Israel and its investments portfolio includes Unitronics, Magal Security, Tahal, Hadera Paper, Mer Group and Gilat Satellite Networks.
In March 2017, FIMI had established a new limited partnership for holding the shares of G4S Israel: FIMI Security Solutions. The partnership comprises six subsidiaries of FIMI, which are controlled by Shira and Yishai Davidi, Gilon Beck Management, Or Adiv LTD and Algum Industries, among others.
According to FIMI and the Israeli media, the company’s activities in Israel will continue with no significant changes. Therefore, it is safe to assume that the company will continue its occupation-related activities. In addition, the CEO of G4S Israel, Miki Adiv, is expected to proceed in his position along with the most of the executives in the firm. Currently, the company remains under the same name. Who Profits will continue to follow up on the details.
G4S Israel is heavily involved in the Israeli occupation. The company provides security services, including security equipment and personnel to businesses in the West Bank settlements. It also provides detection equipment for Israeli-run checkpoints in the West Bank and Gaza. In addition, G4S Israel provides security systems, detection systems and services to the Israeli Prisons Service (IPS). During 2016, G4S Israel had contracts with the IPS in the amount of 11,543,885 NIS. Who Profits revealed that the company is also contracted by the IPS to provide maintenance of security and control systems for the IPS in 2017 for 335,902 NIS.