JERUSALEM Aug 21 The Catalyst CEL Fund said on
Thursday it had agreed to invest $42 million in Lamina
Technologies, a Swiss-based maker of metal-cutting tools.
The fund said it would invest $10 million of new capital
into Lamina, which was founded in Israel, to fuel global
expansion and up to $32 million will be distributed to the
company's existing shareholders.
As a result, Catalyst CEL will take on a controlling stake
in Lamina in partnership with the firm's current management
team, it said. Co-founder and Chief Executive Peleg Amir will
remain in his post.
"We see significant opportunities for expansion into the
China market," said Edouard Cukierman, managing partner of
Catalyst CEL, noting that Lamina already has a strong presence
in Europe, North and South America and Asia-Pacific.
Catalyst CEL is a joint venture between China Everbright Ltd
and Israel's Catalyst Equity Management. The fund has
raised more than $100 million and aims to reach as much as $300
million to invest in Israel-focused companies.
(Reporting by Steven Scheer; Editing by Pravin Char)