Company Description:Tadiran possesses leading technology in tactical radios and military communications systems. As a subsidiary of a large industrial holding company, Tadiran had not received the focus necessary to maximize its value. Having previously owned a 20% stake in Koor, Shamrock was familiar with Tadiran's potential and talented management team. Shamrock partnered with management and First Israel Mezzanine Investors to acquire Tadiran Communications for an aggregate investment of $155 million.
Transaction: Five of Shamrock's designees served on the Board of Tadiran and Stanley Gold served as Chairman. At the urging of the Shamrock Group, Tadiran raised $10 million in an Israeli IPO in September 2000. With Shamrock playing an active role in all of the company's strategic initiatives, Tadiran significantly expanded its presence in international markets and doubled its revenue.
Status:Through August 2004, the Shamrock Group had generated $61 million in distributions through stock sales and dividends. In November 2004, Shamrock completed the sale of its remaining 25% stake in Tadiran for $108 million, representing an IRR of 75% and a 12x multiple.
