Tefen has completed the acquisition of Venture Consulting, which will expand and diversify its activities in Europe

The acquisition will enable Tefen a rapid penetration into new geographic areas in Europe, add strategic consulting to the variety of consulting services the company provides, and increase its growth potential across Europe.

Tefen Ltd has announced that its subsidiary, Tefen UK has completed the acquisition of Venture Consulting S.p.A, a consulting firm. The transaction volume is projected to reach approximately NIS 18 M, of which about 9.5 M will be paid by cash, while the rest of the amount will be spread over a three-year period, subject to the financial performance of the acquired firm.
Venture Consulting, S.p.A (VC) has been operating in Italy and Germany for about 7 years. Its major areas of activity are strategic business consulting and marketing consulting, with specialization in the energy and manufacturing sectors. The firm reports annual revenues of approximately NIS 33 M.
The acquisition will enable TEFEN a rapid penetration into new geographic areas in Europe, namely, Italy and Germany, which are the largest consumers of management consulting on the continent. According to Aaron Lichtenstein, Tefen's CEO, "...the transaction completion is another impetus to executing the business strategy of the company." "VC's activities, along with the acquisition of the company Severn in the first quarter of 2007 and Erskine Management Consulting in December 2006 has significantly expanded Tefen's activities in Europe, and will diversify the sectors it has been active in, and the professional services it provides to its clients, reinforcing the company's presence on the entire European consulting market," added Lichtenstein.
"The acquisition of VC has extended Tefen's capacities in strategic consulting to Europe, following the acquisition of POC in the last quarter of 2006, expanding the scope and diversity of services offered by the company to its clients in Europe", added Eli Pelleg, Tefen's deputy CEO. "Strategic and marketing consulting are part of the professional services Tefen provides in Israel and globally, along with operational consulting, project management excellence ,and organizational consulting, which form the management consulting model the company offers to its clients," he added.
Alessandro Di Fiore, the founder and general manager of VC, will continue to serve in his position and will be managing the firm's activities in Europe. Dr. Heiko Frank will continue to manage the firm's German division. The firm's senior consulting roles will remain in the company.
Tefen has reported NIS 82 M in revenues, and a net profit of NIS 4.4 M in the first half of 2007.