Riding a wave of rising global defense spending, Israeli company Fibrotex Technologies Ltd. is pursuing a strategic move to sell a stake in the business.
According to information obtained by Calcalist, the Petah Tikva-based firm, owned by Martin and Adi Blum, is in talks with both strategic and financial investors for a partial sale at a valuation of about $1 billion. The company has hired investment bank Jefferies to lead the process.
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Systems are designed to conceal soldiers, vehicles and installations from detection using multispectral camouflage
(Photo: Fibrotex)
Fibrotex specializes in the development, manufacturing and integration of advanced camouflage technologies for militaries, special forces and law enforcement agencies. Its systems are designed to conceal soldiers, vehicles and installations from detection using multispectral camouflage.
The company’s products not only hide objects from the human eye but also from thermal cameras, night vision systems, radar and other advanced detection technologies. Its portfolio includes camouflage systems for tanks, armored personnel carriers and command centers, as well as thermal-concealment materials, electromagnetic radiation-absorbing sheets and personal camouflage suits for elite units.
According to market estimates, Fibrotex generated revenue of $130 million to $150 million in 2025, with EBITDA in the tens of millions of dollars. Results for 2026 are expected to be significantly stronger.
The majority of the company’s sales are to the U.S. military and its various branches.
Fibrotex operates through three sister companies, all owned separately by the Blum family, with the planned investment expected to take place across all three entities simultaneously.
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Products not only hide objects from the human eye but also from thermal cameras
(Photo: Fibrotex )
The move comes as defense companies benefit from heightened geopolitical tensions, including conflicts involving the United States and Israel against Iran, the Russia-Ukraine war and ongoing fighting in Lebanon and Gaza. These developments, along with the company’s steady growth in recent years, have led to growing interest from investors.
Fibrotex was founded by Eliezer (Leo) Blum, the family patriarch, who immigrated to Israel from South America in the early 1960s. Originally established as a technical textile company, it gradually transitioned into the defense sector, focusing on camouflage technologies.
Today, Fibrotex is considered the largest company in its field globally, an area that continues to expand alongside the development of drones and detection sensors.
Martin Blum is the brother of Daniel Blum, a controlling shareholder in FMS Enterprises Migun Ltd., another defense company traded on the Tel Aviv Stock Exchange with a market value of about 2.4 billion shekels.
The U.S. military remains Fibrotex’s main client. In 2019, the company secured a sole-source contract with the U.S. Army worth $480 million and has since expanded through additional agreements signed with various branches of the American defense system.
Fibrotex currently operates in about 20 countries and has supplied more than 250,000 systems worldwide. Its clients include countries such as Spain, France, Lithuania, the United Kingdom, the Netherlands, Finland and several Southeast Asian nations.
The company is also unique in controlling the entire production chain of its camouflage products, from raw materials such as fibers, pigments and chemicals, through manufacturing, to the final product.
Its technologies are adapted to a wide range of environments, including deserts, forests, urban areas and Arctic conditions.
Although originally founded as a textile company, Fibrotex began developing advanced materials for the Israel Defense Forces following the 1973 Yom Kippur War. The 1982 Lebanon War accelerated its growth, after which it expanded into international markets.