NBK Capital announced today that it has completed its fourth investment in Turkey by acquiring a 30 percent equity stake in Dunya Goz Group (“Dunya”), Turkey’s largest ophthalmology hospital chain. This investment was made through its NBK Capital Equity Partners Fund (the “Fund”), the firm’s regional private equity fund focusing on growth and expansion opportunities in MENA and Turkey.
With annual revenues of USD 70 million in 2009, Dunya is one of the leading healthcare platforms in Turkey and the broader Middle East/Eastern Europe region. Over the last 16 years, it has built a reputation for its extensive treatment offerings and best-in-class service in eye care. The Company currently operates a broad network of full scale hospitals, clinics and pretreatment centers across sixteen locations in Turkey and Europe.
Amjad Ahmad, Senior Managing Director of Alternative Investments at NBK Capital, noted that, “Our active ownership approach, reinforced by our local presence in Turkey and close partnership with the current management team, will accelerate the growth trajectory of the Company”. Ahmet Tataroglu, Director, Alternative Investments – Private Equity continued, “Dunya’s strong brand and leadership position will allow it to better capitalize on growth opportunities in Turkey and the surrounding region.”
Eray Kapicioglu, Chairman and CEO of Dunya noted that the investment will be used to strengthen the company’s financial standing and allow it to further expand its operations in Turkey and international markets. “We are thrilled to embark on this new chapter in our history with an outstanding firm – one of the most respectable names among the leading private equity firms in the region. We have great confidence that the strategic and financial expertise of the Fund will enable Dunya in the process of transforming into a world-class company.”
NBK Capital Equity Partners Fund, 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 MENA (Middle East and North Africa) and Turkey with the objective of providing growth and expansion capital. The Fund implements an active investment approach to create long-term sustainable value through financial, strategic, operating and corporate governance enhancements.