NBK Capital has completed its fifth investment in Turkey by acquiring a 20% equity stake in Kiliç Deniz, the country''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 $140 million (€105.5 million) in 2010, Kiliç is the leader in the Turkish aquaculture market focusing on both sea water and freshwater 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, said: "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 explained that the investment will be used for capacity expansion and working capital funding.
Fund I, managed by NBK Capital as part of its Alternative Investments Group, is a $250 million (€331.6 million) private equity fund that specialises in acquiring strategic stakes in companies in Middle East, North Africa and Turkey with the objective of providing growth and expansion capital.
The fund specialises on providing growth capital with an active investment approach to create long-term sustainable value through financial, strategic, operating and corporate governance enhancements.
NBK Capital was established in July 2005 as a subsidiary of the National Bank of Kuwait (NBK).
