Fortissimo invests in Polytex

Fortissimo Capital has made an investment in Polytex Technologies, a developer and manufacturer of systems for garment management in hotels, healthcare institutions, fitness centers and manufacturing sites. No financial terms were disclosed. Also, Polytex has named Yariv Matzliach as CEO.

PRESS RELEASE

HEDERA, Israel, Sept. 5, 2019 /PRNewswire/ — Polytex Technologies is pleased to announce it has received a major investment by private equity fund Fortissimo Capital, and welcomes its newly appointed CEO, Yariv Matzliach.
Fortissimo, a leading Israeli private equity fund that invests primarily in technology and industrial companies with high growth potential, made a major investment in Polytex Technologies. Polytex develops and manufactures innovative automatic textile management systems for the healthcare, hospitality, industrial, and fitness industries.

“The investment in Polytex is a vote of confidence in the proven technology and business model underpinning its potential for growth,” said Yuval Cohen, Founding and Managing Partner, at Fortissimo. “The company has brought to market outstanding products and will continue to develop additional innovative solutions to penetrate new markets and grow revenue.”

Mr. Yariv Matzliach, the newly appointed CEO, joins Polytex with a proven track record in defining the strategic direction of maturing companies and subsequently significantly enhancing their growth. Yariv served in senior managerial positions in several companies and his business acumen, and global marketing and operations experience will help accelerate the future growth of Polytex.

The Poliner family, who founded the company in 2003, will continue to be involved in and support the company’s future development. Tomer Poliner, the outgoing CEO, will serve as President and Chief Business Development Officer Yariv stated: “I want to thank Tomer, the outgoing CEO, and the Poliner family for their vision and their personal and professional integrity, which have been instrumental in helping the company achieve its current success. I strongly believe in the huge potential of Polytex and look forward to working together to build a global company that provides outstanding solutions, identifies and embraces opportunities, and is committed to ever-greater achievements.”

About Polytex Technologies
Polytex Technologies Ltd., established in 2003, is a world-leading developer and manufacturer of advanced, easy-to-use systems for garment management in hotels, healthcare institutions, fitness centers and manufacturing sites. The patented Polytex system is a fully automated solution for distribution, retrieval and management of folded garments, workwear, linen, towels and PPE. For more information, please visit: www.polytex-technologies.com.