CVC to acquire 40% stake in Israeli defense company Fibrotex for $350 million
The investment firm is buying the stake from the Blum family through its Catalyst III fund, with the family retaining a controlling 60% interest. Fibrotex generated an estimated $130 million to $150 million in revenue in 2025, with results expected to improve significantly this year.
Investment firm CVC is acquiring a 40% stake in Fibrotex, a Petah Tikva-based company specializing in advanced camouflage technologies. Sources told Calcalist that the deal is being carried out through CVC’s Catalyst III fund.
The Blum family, which currently owns 100% of Fibrotex, will sell the stake for approximately $350 million while retaining a controlling 60% interest in the company.
Negotiations, led by investment bank Jefferies under the direction of Natti Ginor, lasted several months. Talks about bringing in a partner began in April, as previously reported by Calcalist.
Fibrotex develops, manufactures and implements advanced camouflage technologies for armies, special forces and police agencies. Its systems use multispectral camouflage to conceal combatants, facilities and vehicles across multiple parts of the electromagnetic spectrum. The technology is designed to provide concealment not only from the naked eye but also from thermal cameras, night-vision devices, radar and other advanced detection systems.
The company’s product portfolio includes camouflage systems for tanks, armored personnel carriers (APCs) and command posts; materials with thermal camouflage capabilities; electromagnetic radiation-absorbing sheets; and personal camouflage suits and specialized clothing for elite combat units.
According to market estimates, Fibrotex generated $130 million to $150 million in revenue in 2025, with EBITDA reaching tens of millions of dollars. Its 2026 results are expected to be significantly stronger than those of 2025. The vast majority of the company’s sales are to the U.S. military and its various branches.
The law firm Meitar advised on the transaction, with a team comprising Dan Shamgar, Dana Yagor and Daniel Colthof. CVC was represented by Gornitzky and Germany’s Freshfields.
