In the mid 1950s, Joseph Fishman, a star die maker with the Israeli armaments industry, established a small tool and die shop in Haifa, Israel, to manufacture custom-made dies and distribute stamping machinery. Later on, Fishman decided to invest in the development of a core product line of engine thermostats that could be differentiated with Fishman’s technology and automation expertise.
Fishman Engineering later became Fishman Thermo Technologies and went on to become a worldwide leader in the design and manufacturing of automotive thermostats and caps.
Fishman established its North American service operation and began to build dies for steel plates, friction plates and transmission filters. It used the company’s expertise in engineering to buy used presses and rebuild the machinery in order to sell turnkey solutions.
Fishman launched in the North American market, operating under the MotoRad® trade name. Since then, MotoRad has been successful in capturing and servicing major customers across North America.
Motorad expanded into the European market in the early 1990s, operating under the MotoRad trade name. Since then, the MotoRad brand has earned a strong reputation based on its long tradition of dependability and superior performance.
Tene Investment Funds, an Israeli private equity firm that manages private investments through active positions in Israeli high growth mid-tech industries, acquired majority ownership of Motorad.
Motorad expands sales to OEM customers
Motorad expanded its sales to OEM companies, offering them advanced, design-ready thermostats that meet the highest quality standards and service.
Private equity firm Origo Investments G.P. Ltd. acquired minority ownership of Fishman Thermo Technologies.
Motorad opened it new distribution center in Monterrey, Mexico to better serve customers in Mexico and throughout Central and South America.
Fortissimo Capital is a leading private equity investment group in Israel. Fortissimo invests primarily in public / private technology and industrial companies. Fortissimo Capital acquires full ownership of MotoRad.