Hamat Group Ltd. (TASE:HAMAT) signed an agreement to acquire Houzer Inc. from a third party for $2.8 million on May 4, 2017. In exchange for the acquired shares, Hamat will pay the seller on the closing date, the sum of $2.8 million, subject to adjustments in the price of the consideration, calculated on the basis of the average working capital of Houzer as for the year 2016. Hamat Group intends to finance the proceeds from its own resources and/or from credit from a banking corporation. Completion of the transaction depends on the cumulative existence of a number of preconditions, including fulfillment of all of Hauzer’s monetary and contractual obligations to a local bank in connection with its operations up to the closing date. The deal is expected to be completed in the next two weeks. Genesis Capital, LLC acted as financial advisor for Hamat Group Ltd. Michael Lorence, Doug Smith and Ryan Johnson of Generational Equity, LLC acted as financial advisors for Houzer Inc. Hamat Group Ltd. (TASE:HAMAT) completed the acquisition of Houzer Inc. from a third party on May 10, 2017. Houzer reported total assets of $2.7 million, sales of $5.5 million and operating profit of $0.5 million in 2016. The deal closed after fulfillment of the preconditions for completion.