Carlyle Group buys 50 per cent of Turkish shipyard
The Carlyle Group said it has acquired a 50 per cent stake in TVK Shipyard (TVK), a Turkish shipbuilder specializing in chemical tankers and other specialty vessels. This is Carlyle’s first investment in Turkey.
Established by entrepreneurs Can Topsakal, Naim Kocer and former production manager of Turkey’s largest shipyard, Turgut Atagun, TVK was incorporated in 2005 in the Kocaeli Free Trade Zone. The company was created to build specialised chemical tankers with cargo volume up to 30,000 dwt (deadweight tonnage).
Can Topsakal, the founder and chief executive of TVK said, “Through the addition of a second slipway already under construction, we anticipate doubling our production by the end of the year.”
“This growth capital investment in TVK is indicative of the opportunity we see in the MENA region. Carlyle has the capital, industry expertise and global network that can help companies grow and revitalise,” said Walid Musallam, Carlyle managing director and head of the MENA team.
Established by entrepreneurs Can Topsakal, Naim Kocer and former production manager of Turkey’s largest shipyard, Turgut Atagun, TVK was incorporated in 2005 in the Kocaeli Free Trade Zone. The company was created to build specialised chemical tankers with cargo volume up to 30,000 dwt (deadweight tonnage).
Can Topsakal, the founder and chief executive of TVK said, “Through the addition of a second slipway already under construction, we anticipate doubling our production by the end of the year.”
“This growth capital investment in TVK is indicative of the opportunity we see in the MENA region. Carlyle has the capital, industry expertise and global network that can help companies grow and revitalise,” said Walid Musallam, Carlyle managing director and head of the MENA team.