“Change before you have to”, goes an old adage in business and industry. Dr. Joseph Kramer retires after 40 years from the company he founded; Fortissimo Capital Fund takes over from the Kramer world and has acquired the majority stake.
Joseph Kramer is not just any name: we are talking about one of the founding fathers of the AV industry, as well as founder of Kramer Electonics and a driving force who for 40 years has worked to bring the company to become one of the world leaders in its field. The announced retirement of Dr. Kramer opened a new scenario, on which he entered, acquiring the majority stake in Kramer Electronics, Fortissimo Capital Fund, an important private equity fund based in Israel, specialized in promoting growth of technology companies. With a capital of $ 1.6 billion, Fortissimo Capital Fund has to date invested in approximately 50 companies in Israel and other countries.
In short, for Kramer a very important and epochal change, even if there is some note of continuity: two of the founders of the company, Michael and Ben-Zion Hochstein, will in fact keep their interests in the company. Furthermore, the shareholders expressed their willingness to commit to investing in Kramer’s future to ensure a renewed and strengthened focus on innovation and the pursuit of excellence, which have always been among the fundamental characteristics of this company. Kramer aims to further expand in the future, and therefore has very high ambitions. The changes – assured in Kramer – have been endorsed to further strengthen partner support and customer service. The entry of Fortissimo Capital Fund was greeted with enthusiasm and there is every reason to think that this change could bring new life and new ideas for the future.
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