UK-based Apax Partners buys Israel’s Yad2 in $950m dollar deal
The sale marks one of the most significant Israeli tech transactions of the year
London-based private equity firm Apax Partners has signed an agreement to buy Israel’s leading online classifieds platform, Yad2, from global investment house KKR in a deal valued at around $950 million, industry sources said this week.
The sale marks one of the most significant Israeli tech transactions of the year and underscores continued foreign investor confidence in the country’s digital economy.
Based in Tel Aviv, Yad2 has long been Israel’s go-to destination for second-hand goods, real estate listings, cars, jobs, and more. The company has posted strong growth in recent years. Revenues have risen steadily on the back of increased listings, the success of premium advertising tools and an expanding base of paying users.
KKR became Yad2’s owner following the corporate restructuring of Axel Springer’s classifieds division, and moved to initiate a competitive sale process earlier this year. The auction drew some of the world’s biggest private-equity groups, with Blackstone initially seen as the leading contender. Warburg Pincus, Francisco Partners and CVC Capital Partners also reviewed the asset, according to reports.
Apax Partners has long been investing across technology, services, healthcare and consumer/internet companies and in 2015, it established a dedicated Israel fund, Apax Mid‑Market Israel Opportunities (AMI) as a platform for investing in mid-market Israeli companies, or companies with a significant Israeli heritage.
AMI has since acted as Apax’s vehicle for control buyouts, growth investments, and minority or debt-style investments in Israeli firms. Among the Israeli companies Apax has invested in are Max Stock, Guesty and Global-e.
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