Fortissimo Capital Fund just acquired a majority interest in Kramer Electronics. Michael and Ben-Zion Hochstein, two of the company’s founders, retain their interests in the company, while Joseph Kramer, the third founder of Kramer Electronics, is retiring from the company.
Fortissimo Capital Fund is a private equity fund based in Israel, with proven capabilities to facilitate the growth of technology companies. Fortissimo manages $1.6 billion in capital and has to date invested in approximately 50 companies in Israel and abroad.
Here’s a video interview rAVe’s founder, Gary Kayye, held with Kramer CEO, Itzhak Bambagi, early this morning:
Itzhak Bambagi, chief executive officer of Kramer commented: “I would like to thank Dr. Kramer for the many years he has dedicated to the success of our company. Dr. Kramer was one of the founding fathers of the AV industry and contributed greatly to the company’s position as a world leader in its field. Fortissimo’s investment in our company is a major milestone and I am confident that under their guidance we can grow and become an even more significant player in the market.”
Yuval Cohen, managing partner of Fortissimo Capital and chairman of the board of Kramer added: “Kramer’s continued innovation and innovative solutions including cutting-edge cloud technologies, pioneering methods of delivering AV-over-IP and wireless presentation and collaboration advances have solidified its position as a leader in the industry. Digital multimedia and AV technologies are thriving, and we see Kramer Electronics as a great global platform with over 25 offices worldwide to further grow and enhance its operations. We are thrilled to participate in the next phase of Kramer’s journey!”.