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Buy-side advisory to Oyak in its acquisition of 100% stake in Akdeniz Kimya

Akdeniz Kimya, established in 1976, is the leading producer of additives for the PVC industry in Turkey. The product portfolio of the company includes calcium-zinc and lead based heat stabilizers, acrylic impact modifiers and processing aids. With more than 450 employees and revenues of around US$190 million in 2011. The company is the market leader in Turkey and holds significant market share in high growth countries in regions including CIS, Middle East and Africa. The head office and the integrated production facilities of the company are based in Izmir.

Founded in 1961, Oyak operates as both a pension fund – Turkey’s largest – and private equity investor, counting more than 260,000 members, employing roughly 35,000 individuals and managing more than an equity base of more than US$7.3 billion. The group has more than 60 subsidiaries in various sectors including steel production, cement, logistics, automotive, defense, construction and services.

Oyak acquired 100% of Akdeniz Kimya.

Kerim Kotan said, “We have been advising Oyak for the last two years on the buy-side looking at more than 100 potential targets in parallel. Specifically, there was meetings with more than 60 companies, NDA signed with 20 of them, valuation and prelim due diligence on 8 of them, put in non-binding offers on five of them and there was full due diligence on two targets. Akdeniz Kimya emerged from this process as the clear preferred potential target with which Oyak wanted to complement its diverse holdings.”