A Turkish Private Equity Web Log

In an effort to cover the Turkish Private Equity Industry - for the promotion of Entrepreneurship, the private equity asset-investment model, and the communication thereof.

Bancroft Invests in Leading Turkish Coatings Group Kayalar Kimya
January, 2010

Bancroft Group, a private equity firm, is investing an undisclosed amount in Kayalar Kimya, a leading Turkish coatings group. The investment will be made through the private equity firm's third fund, Bancroft 3, which is targeting total commitments of EUR250 million for investments in Central and Eastern Europe as well as Central Asia and the Caucasus.

Kayalar Kimya is a Turkish producer and a market leader for a wide range of wood and decorative coatings and distributes a wide range of specialty chemicals. The company was founded in 1976.

Other Turkish investments from the Bancroft Group include:
September, 2006 - Standard Profil A. S., tier-one rubber profile and weather-strip manufacturer for European and Turkish car manufacturers.

July, 2007 - Eko Finans Factoring Hizmetleri A. S., a factoring services provider in Turkey with 15 branch offices countrywide, focusing on small to mid-sized enterprises.

Bancroft is a US private equity firm that has been active exclusively in the region of Eastern Europe since 1989

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The Carlyle Group Acquires 40 Percent of Turkey's Medical Park Hospitals
December, 2009

According to the Carlyle Group press release, Global private equity firm The Carlyle Group today announced it has acquired a 40 percent stake in Medical Park Sağlık Hizmetleri A. Ş., Turkey's second largest healthcare services company. The founding shareholders, the Sancak and Usta groups, will remain as significant investors in Medical Park. Carlyle's all-equity investment will be used primarily to finance the hospital company's continued expansion and reduce debt. Additional financial details were not released. The transaction closed on December 7, 2009.

Can Deldağ, Carlyle Managing Director and Head of the Turkish investment team, said, "We, as Carlyle, are very pleased to invest in a strong, growing company like Medical Park. The Turkish healthcare services sector shows great promise as patient demand for services has been high and is expected to grow steadily."

Medical Park (www.medicalpark.com.tr)was established in 2005 with two existing hospitals based in Istanbul dating from the mid-1990s. Through the development of new hospital projects in leading cities in Western Turkey, and the acquisition of single hospitals based in North and East Anatolia, Medical Park now owns and operates 13 hospitals with 2,000 beds as of 2009. Medical Park provides a diverse range of healthcare services with 800 physicians, 1,600 nurses and 2,800 support personnel.

Equity for this investment, Carlyle's second in the MENA region, will come from Carlyle MENA Partners, a $500 million growth capital and buyout fund that closed in March 2009.

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Abu Dhabi's Invest AD Invests in Ekol Lojistik
November 2009

According to Invest Ad's press release, Abu Dhabi's Invest AD Invests 50 million Euros in Turkish Logistics Firm, Ekol Lojistik.

Abu Dhabi-based Invest AD is acquiring a significant minority stake in Ekol Lojistik, one of Turkey’s leading integrated logistics companies, for approximately 50 million Euros. The investment will be the first made through Invest AD Private Equity Partners II.

Invest AD's private equity fund, which aims to raise $400 million, is investing in fast growing companies in the Middle East and North Africa region, with a strong focus on Turkey, Saudi Arabia, Egypt and the United Arab Emirates.

EKOL, established in 1990, owns and operates 1,100 vehicles and 16 warehouses in Turkey and one cross-dock facility in Germany. Its team of 2000 people serves a long list of international and national blue-chip clients. The company offers integrated logistics services which include transportation, warehousing, foreign trade consulting and exhibition logistics and a number of value added services.

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Posted @ 00:21   0 Comments
European private equity firm Bridgepoint takes joint controlling stake in Turkish vehicle inspection group TüvTurk
October, 2009
Bridgepoint PE's presence in Turkey, which is really the managed footprint of the old AIG Blue Voyage Fund, appears to have made an active contribution in Turkey, the stalwart survivor of the crisis, and has established their office in Turkey. According to the Bridgepoint press release in October 2009, European private equity firm Bridgepoint has taken a joint controlling stake in Turkish vehicle inspection group TüvTurk in the largest private equity investment in Turkey so far. Details of the deal were not disclosed, but reports in September 2009 estimated a stake of 33 per cent.

The company operates 189 stations across the country and has franchised its operations across 81 regions to 46 franchisees with TüvTurk shareholders retaining ownership and operation in Istanbul, the company’s largest region. Tüvturk is licensed to operate roadworthiness centres across Turkey until 2027, and owns three city franchises: Tüvturk Kuzey, Tüvturk Guney and Tüvturk Istanbul.

The investment was made through Bridgepoint's €4.85bn Bridgepoint Europe IV fund.

This investment appears to be nice medium tier investment for a government subsidized business with guaranteed franchise rights for long duration. Very low competition and tests are required by law for all vehicles in Turkey.

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Posted @ 23:51   0 Comments

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