MGAR Group Scooped Up by Fortissimo for $75 Million

Fortissimo Capital is an Israeli private equity firm.

Yuval Cohen, Fortissimo’s founding and managing partner, PR

Two weeks ago Yuval Cohen’s private equity firm Fortissimo acquired the municipal services provide MGAR Group for NIS 240 million ($75 million). This was revealed in a report by Globes.

As a leader in the Israeli market, M.G.A.R Ltd. provides a wide range of integrated solutions based on advanced technologies for project operation and management and service providing, including municipal tax collection and other collection services for local authorities & municipalities.

Established in 1990, M.G.A.R group (through A.H.N.A) provides designated BPO (Business Process Outsourcing) services and solutions to a wide range of public sector clients specializing in financial administration.

M.G.A.R Ltd. States that it specializes in tailoring client designated solutions comprised of a wide variety of services, including training, professional HR, integration of data systems, database management, data analysis, implementation and integration of processes, billing processes, clearing and CRM.

The company provides services for over 100 municipalities and local authorities nationwide, whose overall collection exceeds $1.5 billion. M.G.A.R.’s operations include the production, management and clearance of over 15,000,000 Bills accounts per year.

Fortissimo Capital is an Israeli private equity investment group. Fortissimo’s private equity funds hold $1.6 billion under management. It invests primarily in Israeli related public and private technology and industrial companies that require a capital infusion to expand their business.

Founded in 2004, Fortissimo invests in companies at various phases, including growth acceleration, special situations, turn-arounds and at points of inflection, where companies require not only capital but strategic guidance to help them navigate to success. Fortissimo is a long term investors and seeks to partner with management to shape corporate strategy and to implement a plan of execution to accelerate growth and maximize shareholder value.

Fortissimo is backed by leading global financial institutions including insurance companies, banks, family offices and pension funds.

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