Israel’s Ludan Engineering has acquired control of Ardan Control Tech, a private company whose annual turnover amounts to approximately $17 million, employs 90 people and has shown stable profitability in recent years.
The purchase was made through a subsidiary of the software and control segment (Ludan Tech Inc.), and it will take place in two phases.
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Ludan acquired 51% of the shares of the target company (fully diluted) for 5.8 million Shekels ($1.6 million). At the end of three years from the date of completion of the transaction, it will acquire the remaining shares in the company.
Ludan completed the first nine months of 2014 with gross revenues of 347 million Shekels ($95 million), and net income at a height of 4.2 million Shekels ($1.2 million).
Ludan engineering, is active in three sectors: engineering design services and project management process industries, environmental technologies and renewable energy sector software and control.
Ardea Control Tech engages in several key areas: providing solutions for software applications and industrial control, safety and security aspects of energy management systems and structures and communications. Arden Control Tech may expand its customer base into other industries in which Ludan is not involved.
Ludan intends to consolidate and market Arden’s experience and capabilities in foreign markets, with priority given to countries where Ludan has been active.
Ardan Control Tech LTD, is a leading provider of advanced integrated automation and control solutions, operating in versatile markets: Industrial, Energy management, Petrochemical facilities, Security & Defense, RFID, Audio-Video, Multi Media, Building management systems and Low Voltage Systems.
The company’s ability to integrate different technologies through the project definition, planning, supply of equipment, installation and programming, enables ACT to supply the customer with a comprehensive, end-to-end solution. Based in Tel Aviv – Israel, ACT performs projects In Israel, Eastern Europe, Asia, and Africa.
ACT was established in 1984 as a member of the Nisko-Ardan group, who’s annual turnover exceeds $320 million.
The company employs over 130 skilled engineers and technicians, a stuff aimed at supplying the customer with the best technical and cost effective solutions.
LUDAN Engineering Co. Ltd. was founded in 1977 and has since grown steadily to become one of the leading multidisciplinary engineering firms in Israel, employing a staff of over 350 employees.
LUDAN Engineering Co. Ltd. operates in Israel through its branches in: Petach Tikva (company headquarters) Beer Sheva and Nesher.
