Baran Enters Desalination Sector with 53.6 Million Shekel Ashkelon Plant Stake

Infrastructure firm Baran is entering the desalination sector by acquiring a 40% stake in Adom, the operator of the Ashkelon desalination plant, from Gil Agmon's Veridis for 53.6 million shekels. The transaction values Adom at 134 million shekels.

Adom is a profitable company that closed 2025 with a net profit of 50 million shekels. Its operating agreement for the plant began in 2023. Alongside the acquisition, Baran and Veridis are jointly bidding to expand the plant's production capacity from 120 million cubic meters annually to 220 million cubic meters, and to operate it for an additional 25 years.

Baran will not hold voting rights in Adom, but will appoint one director and receive its share of the profits, while Veridis retains a 60% stake. Baran will hold a right of first refusal if Veridis decides to sell its remaining holdings. The acquisition aligns with Baran's strategy to build yield-generating assets alongside its planning and construction activities.

Omri Gelbert, head of concessions at the Baran Group, stated that the transaction directly implements their strategy of growth through yield-generating assets and operations in fields where they have proven expertise. Baran is controlled by Avihai Stolero and founder Meir Dor, and is traded at a value of 470 million shekels.