NBK Capital announced today that it has completed its fifth investment in Turkey by acquiring a 20 percent equity stake in Kiliç Deniz ("Kiliç"), Turkey's largest aquaculture company. The investment was made through NBK Capital Equity Partners Fund I, the firm's flagship regional private equity fund focusing on providing growth capital to businesses in Middle East, North Africa and Turkey.
With revenues of over USD 140 million in 2010, Kiliç is the leader in the Turkish aquaculture market focusing on both sea water and fresh water fish production. It is the only truly vertically integrated player in the domestic space that can effectively execute all phases of fish farming ranging from incubation to packaging and distribution. In addition to Turkey, Kiliç is a major supplier to international markets.
Amjad Ahmad, Senior Managing Director at NBK Capital noted that, "Our equity investment in Kiliç illustrates our continued confidence in the company's business model and growth potential. We will continue to execute on Kiliç's proven strategy and provide the necessary support to solidify its position as a regional leader."
Orhan Kiliç, Chairman and CEO of Kiliç noted that the investment will be used for capacity expansion and working capital funding. "We are very excited to expand our partnership with one of the most respected private equity firms in the region. Our association with NBK Capital will enable Kiliç to continue to successfully grow, and execute its long-term goals"
NBK Capital Equity Partners Fund I, managed by NBK Capital as part of its Alternative Investments Group, is a $250 million private equity fund that specializes in acquiring strategic stakes in companies in Middle East, North Africa and Turkey with the objective of providing growth and expansion capital. The Fund specializes on providing growth capital with an active investment approach to create long-term sustainable value through financial, strategic, operating and corporate governance enhancements.