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We have completed our 100th transaction

Şevket Başev3 Seas Capital Partners, having completed its first transaction in 2005, has reached the 100 transaction mark in 2015. I would like to extend our sincere regards and thanks to all our friends who have supported us since our foundation, especially our esteemed customers, who believed and trusted us without hesitation in vitally important merger and acquisition transactions for their companies. In the mergers and acquisitions (M&A) industry, where each deal requires a particular level of rigor and great effort for a period of months, and even years in some occasions, we have successfully added the title “the first company in Turkey to complete 100 transactions” next to being Turkey’s leading financial institution in terms of the number of completed deals. We have become one of the few companies in the world, and the first company in Turkey to achieve this success.

Experience, care, trust… and certainly excitement

During the brief meetings with our publicist for our newspaper advertisement, we were asked to list a number of fundamental elements needed to complete an M&A transaction. We have extensively brainstormed with our entire team on this task which initially seemed like a very easy question for us to answer. The more we thought about it, the more we realized that this was not an easy task, and that in our industry a lot of elements need to work in harmony in order to complete a transaction. The absolute musts for each transaction are extensive experience, utmost care, and a high level of trust mutually established between the client and the M&A firm… in addition to the preceding factors excitement, which is an important element for any business is an absolute must for our our industry as well. The first deal in our history was the sale of 75% shareholding of Docar (now Fleetcorp), Turkey’s first operational fleet leasing company, to the Kuwait based TII (The International Investor). Whereas, our 100th transaction was the sale of CMC (Customer Management Center), the Turkey based subsidiary of ISS, one of the world’s most active companies in M&A transactions, to the UK based private equity fund Mid Europa Partners. We have completed our 100th transaction with the same level of excitement and care as with our first transaction.

Mergers and acquisitions (M&A) is still a young industry in Turkey, even though its global history dates back more than a century. Not too far back, about 10-15 years ago, our business world was reluctant of even accepting the presence of such an industry. Today, we have come to an awareness level where potential share sale and exit strategies are discussed during the start-up phases of companies, from times when our meeting requests were declined by offended business owners who reacted with the remark “our company is not for sale!”. I believe that we have played a vital role in taking our business world to the level it is now, with our 100 completed transactions and by tirelessly stating the importance of M&A for companies in every platform, starting with our Closing Report which you are currently reading.

Completing our 100th deal in 2015, we are once again the leader

The Abraaj Capital’s, one of the largest private equity funds in the Middle East, acquisition of minority shares in Hepsiburada in the first quarter of 2015,during which we represented the Abraaj Capital, marked the highest valuation in the Turkish internet industry. (Yemeksepeti transaction, which was completed a few months later, has set a new record and just like many entrepreneurs in our country, we were proud by the incredible success of our dearest friend Nevzat Aydın and his partners.) The sale of minority shares of Sarten, Turkey’s leading packaging company with over 15 production facilities to Japan based Mitsui has been another noteworthy deal, further emphasizing the growing level of interest from Asian companies in Turkish companies. We have completed two other deals with our Asian friends in 2015: CJ Games, a subsidiary of CJ Group, one of the largest conglomerates in South Korea has acquired the remaining shares from its first acquisition of 50% in 2013, in Joygame and SHR İnteraktif, Turkey’s leading multiplayer online game and entertainment portal.

Besides being our 100th deal, the sale of CMC to the UK based private equity fund Mid Europa Partners had another gratifying significance for us. We were extremely content to represent its Turkish shareholders and ISS, one of the largest companies globally with over 500,000 employees and one of the most active companies in terms of M&A with more than 370 M&A transactions since 1998,. Throughout the transaction, which was run with ultimate quality, with more than 10 interested parties and where negotiations were handled parallel to each other until the signing day, we have once again proven that sound companies will always find a buyer at the right price, independent from the regional or global conjuncture.

The sale of majority shareholding in Komet, one of the leading forwarding companies in Turkey, to Marmedsa, one of the largest shipping and logistics companies in the Iberian Peninsula carries a particular importance for us, since it was Erkan Kurt’s first transaction at 3 Seas Capital Partners. Being one of the first investment bankers in Turkey, I believe that we will be announcing many more deals from Mr. Kurt in the coming years, with great joy. Having 6 investment bankers with over 15 years of M&A experience each, and actively operating in over 35 countries through IMAP’s exclusive network, 3 Seas Capital Partners is ready today, and will be ready in the future to complete numerous significant transactions.

Sincere Regards,

Şevket Başev
CEO

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