Istanbul, Turkey, 11 August 2015 – The Abraaj Group's Anatolia Growth Capital Fund yesterday announced the acquisition of a stake in Yu-Ce Medical, a leading disposable medical supplies manufacturer specializing in medical gauze, medical sponges and surgical sutures. The company has operations in the Anatolia region of Turkey.
"This transaction marks the Anatolia Growth Capital Fund's second acquisition in Turkey, both of which we have advised them on. Abraaj's Anatolia Growth Capital Fund invests in high-growth businesses in the developing regions of Anatolia often overlooked by investors, and the investment in Yu-Ce Medical will promote economic and employment growth in the region. We look forward to continuing our close relationship with The Abraaj Group," commented Partner Duygu Turgut.
A team of lawyers from Esin Attorney Partnership, a member firm of Baker & McKenzie International, advised Abraaj's Anatolia Growth Capital Fund on its acquisition of a stake in Yu-Ce Tibbi Gerecler Ithalat Ihracat Mumessillik Sanayi ve Ticaret A.S. (Yu-Ce Medical). Partner Duygu Turgut advised on the transaction with support from attorneys Ali Selim Demirel, Orcun Solak, Guven Mavis, and Asli Caglar.
This acquisition marks Anatolia Growth Capital Fund's second acquisition in Turkey and the first ever private equity investment completed in Sanliurfa, demonstrating investors' interest in Turkey's growing medical devices sector. The Firm also advised on Anatolia Growth Capital Fund's joint acquisition with the European Bank for Reconstruction and Development (EBRD) of a stake in BRN Yatak Baza Ev Tekstili Insaat Sanayi Ticaret A.S. (BRN Sleep Products).
Abraaj's Anatolia Growth Capital Fund invests in high growth companies focusing on the developing provinces and regions of Anatolia. The Fund targets 43 cities in Turkey with per capita incomes below 75 per cent of the national average offering substantial convergence opportunities and growth potential.
About Esin Attorney Partnership
Esin Attorney Partnership has long been a leading provider of legal services in the Turkish market. Today, as a member firm of Baker & McKenzie, our team of nine partners and more than 60 lawyers is an integral part of a seamless global network. Our Firm is recognized locally and globally for our M&A experience, and we have advised on some of the largest deals in the Turkish market, involving public and private companies, private equity funds and other strategic investors.
About Baker & McKenzie
Founded in 1949, Baker & McKenzie advises many of the world's most dynamic and successful business organizations through more than 11,000 people in 77 offices in 47 countries. The Firm is known for its global perspective, deep understanding of the local language and culture of business, uncompromising commitment to excellence, and world-class fluency in its client service. Global revenues for the fiscal year ended 30 June 2014, were US$2.54 billion. Eduardo Leite is Chairman of the Executive Committee. www.bakermckenzie.com
About Abraaj Group
The Abraaj Group ("Abraaj" or the "Group") is a leading private equity investor, purpose-built for operating in the growth markets of Africa, Asia, Latin America, the Middle East, and Turkey.
Employing over 300 people, Abraaj has over 25 offices spread across five regions with hubs in Dubai, Istanbul, Mexico City, Nairobi and Singapore. The Group currently manages c. US$ 9 billion across regional, sector and country-specific Funds.
Abraaj has realized c. US$ 5.1 billion from over 70 full and partial exits, and Funds managed by the Group have made over 140 investments across 10 sectors including consumer, energy, financials, healthcare and utilities. The Group is committed to the highest environmental, stakeholder engagement and corporate governance standards and is a signatory to the United Nations-backed Principles for Responsible Investment and the United Nations Global Compact. Abraaj's founder, Arif Naqvi, was appointed to the United Nations Global Compact Board by UN Secretary-General Ban Ki-moon in 2012 and to the Interpol Foundation Board in 2014.
About Yu-Ce Medical
Established by Cengiz Balcik and Yumnu Balcik in 1995, Yu-Ce Medical began its operations as a medical supplies importer. In 2007, the company started producing medical gauze and medical sponges in Sanliurfa, and started manufacturing absorbable and non-absorbable surgical sutures in 2013. The company carries out its manufacturing operations in two company-owned factories and has an established sales platform across Turkey, including a diversified customer base of more than 230 state, university and private hospitals and over 190 medical distributors.
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