ILift buys control of Skyline Cranes in ~$84M construction-lift deal
What's the deal? ILift, an Israeli provider of hoists for building sites, has bought a 75% controlling stake in tower crane company Skyline Cranes and TechnologiesDealroom has a profile for this one. Try Dealroom → for US$65.2M (roughly $84 million). The purchase, from founder and chairperson Baruch Parnas, values Skyline at US$87M. ILift is controlled by chief executive officer Yaron Sulzbacher and listed company Alma YesodotDealroom has a profile for this one. Try Dealroom →, itself controlled by Yitzchak Mirilashvili.
What's the endgame? Sulzbacher framed the deal as more than an expansion of services. It "connects two complementary professional platforms and brings us closer to the vision of a one stop shop for all vertical transportation needs at construction sites," he said.
By the numbers: In 2025, Skyline posted revenue of US$44.1M and net profit of US$5.5M, underlining why ILift sees room for continued growth across both businesses.
How it's funded: ILift has lined up capital from several sources. A financial institution will invest US$17.1M for 20% of its shares — valuing ILift at US$69.1M pre-money — plus a US$10.2M loan, part convertible to up to 7.5% of the company. Bank HapoalimDealroom has a profile for this one. Try Dealroom → is providing a US$51.2M loan, repayable over 7.5 years.
Why now? The investment marks a payoff for existing owners. Alma YesodotDealroom has a profile for this one. Try Dealroom → bought a third of ILift in 2021 at a pre-money valuation of US$24.3M, meaning the company's value has almost tripled since.
Parnas said the move opens Skyline's next chapter. "Your responsibility is not just to achieve success with it but also to know how to identify the point at which you should open up the next stage for it," he said.
The signal: The deal consolidates two adjacent construction-equipment businesses — hoists and tower cranes — under one owner, a bet that bundling vertical-transport services can create a bigger, more valuable platform in Israel's building sector.
Read more: en.globes.co.il
Image credit: billjacobus1
