Fortissimo Capital Fund, which has a track record of supporting growing technology companies, made the acquisition as Dr Joseph Kramer retires.

Fortissimo Capital Fund, a leading private equity fund based in Israel, has acquired a majority interest in Kramer Electronics, as Dr Joseph Kramer, an entrepreneur and a founder of the company, retires. Michael and Ben-Zion Hochstein, two of the company’s other founders, retain their interest in the company.

Fortissimo, which has proven capabilities in facilitating the growth of technology companies, manages $1.6 billion in capital, and has invested in 30 companies to date in Israel and abroad.

Itzhak Bambagi, CEO of Kramer, commented: “I would like to thank Dr Kramer for the many years he has dedicated to the success of our company. Dr Kramer was one of the founding fathers of the AV industry and contributed greatly to the company’s position as a world leader in its field.

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Source: Avinteractive