Gross Kleinhendler Hodak Halevy Greenberg & Co continues to have a very good reputation with clients. "They have done excellent work," says one, adding: "We work with at least six or seven firms and Gross is the number one....
[more]
Gross Kleinhendler Hodak Halevy Greenberg & Co continues to have a very good reputation with clients. "They have done excellent work," says one, adding: "We work with at least six or seven firms and Gross is the number one."
Last year the firm's debt capital markets team was kept busy by its involvement in a number of debt raisings, including a NIS700 million ($179 million) debenture issuance by Israel Chemicals and a NIS650 million issuance for Mekorot, Israel's national water company. The firm also acted for Hadera Paper in a shelf-prospectus and debt-raising with a value of NIS430 million.
In the M&A field, partner David Hodak is well respected. "I think he's a tier one guy, an absolutely tier one guy," says a rival partner. The firm represented Qumranet in the $115 million acquisition of the company by Red Hat and also advised Ventor during its $325 million acquisition by Medtronic.
Joint head of M&A Richard Mann led the firm's advice to the buyer in the NIS700 million acquisition of Prisma Provident Funds by Psagot Investment House and the purchase of a 25% stake in Strauss Coffee by TPG Capital.
One of the firm's most prominent clients is York Global Finance, which mandated the firm in two key transactions. In the first, Plainfield Special Situations Master Fund acquired 21.7% of a York subsidiary, while in the second the firm acted for York subsidiary Psagot Investment House in a deal that saw 24% of the company exchanged for assets in Psagot Provident Funds.
Another strong client is Mizrahi Tefahot Bank, who partner Ofer Hanoh advised over the acquisition of the rights and share capital of Bank Yahav for Government Employees. Hanoh also counselled the company regarding an option agreement with Israel Credit Cards to buy shares worth 10% of the company's share capital.
[hide]