Major move in crane industry: High Lift, controlled by Alma Yesodot, acquires Skyline for ₪255 million

Alma Yesodot associate High Lift is acquiring 75% of Skyline Cranes in a mega-deal. Funding: a ₪200 million loan from Bank Hapoalim and a ₪67 million equity investment from an institutional entity, reflecting a valuation of ₪270 million for High Lift

High Lift Ltd., an associate of Alma Yesodot, is acquiring 75% of Skyline Cranes & Technologies for approximately ₪254.8 million. The deal is funded via a complex financial package including a ₪200 million loan from Bank Hapoalim, a ₪67 million equity investment from an institutional investor, and an additional ₪40 million convertible loan from the same institution. Following the transaction, Alma's stake in High Lift will be diluted to 26.67%.

High Lift, held by Alma Yesodot (26.67% post-transaction), is taking a major step forward by acquiring 75% of the share capital of Skyline Cranes & Technologies. For the shares, High Lift paid approximately ₪254.8 million in a transaction completed on September 17. The move, part of Alma Group's strategy to expand operations in construction equipment, is financed through a complex funding package reflecting market confidence in the company.

To finance the acquisition, High Lift raised a combined financing package. First, the company took out a ₪200 million loan from Bank Hapoalim, to be repaid over 7.5 years at prime rate plus a margin of 0.5%-1.0% (report 2026-01-087223). Second, an institutional investor invested approximately ₪67 million in High Lift in exchange for 20% of the company's preferred shares. This investment was made at a pre-money valuation of ₪270 million for High Lift, a significant valuation jump from the valuation of approximately ₪95 million at which Alma invested in the company in June 2021. In addition, the same institutional investor provided High Lift with a ₪40 million convertible loan into shares.

Following the institutional investor's investment, Alma Yesodot's stake in High Lift was diluted from 33.3% to 26.67%. Upon completion of the acquisition, High Lift holds 75% of Skyline, while the remaining 25% remains held by the seller and another partner. The parties agreed on a mutual option mechanism (Call/Put) that will allow High Lift to acquire the remaining 25% in the future for approximately ₪35 million and the issuance of additional shares.

The target company, Skyline, is an established firm operating since 2003 in the purchase, rental, and operation of cranes for building contractors. According to figures provided to High Lift, Skyline's revenues in 2025 stood at approximately ₪172.4 million, with net profit totaling approximately ₪21.5 million. The company's equity as of December 31, 2025, stood at approximately ₪167.3 million (report 2026-01-087223). Alma estimates that the deal will allow High Lift to strengthen its operations in vertical transport and equipment rental for the construction sector, and that continuing Skyline's operations in its current format will not require material additional investments.

The investment agreement with the institutional investor includes investor protection mechanisms, including a guaranteed average annual return of 12% in the event of an initial public offering (IPO) or liquidity event, and 13.5% if such events do not occur within 4 years. Furthermore, the agreement grants the institutional investor the right to appoint a director and veto rights over material decisions at board and general meeting levels of High Lift.