Newpan and Danya form JV in lucrative air conditioning market
Categories: Corporate and M&A
Competition intensifies in the air conditioning sector as Newpan, the leading importer of electrical and electronic products in Israel, and Danya, a construction and infrastructure company, have established a new joint company in the field of air conditioning.
Part of Lapidot Capital Group, Danya was represented by partner Gadi Graus of Shibolet Law Firm.
The JV, headed by Erez Yuval, will be held equally by the companies and will engage in the import, purchase, marketing, distribution, engineering, service and sale of air conditioning products.
According to Newpan, the air conditioning market in Israel generates about NIS 3 billion a year, with about 800,000 new air conditioning systems installed annually.
