Adnan Abdel-Razzak, +971-(0)4-428-4172, email@example.com
Istanbul (Turkey) and Washington, D.C. (United States), September 9, 2016 – Darby Private Equity ("Darby"), the private equity arm of Franklin Templeton Investments, announced that Darby acquired a minority stake in Peker Yüzey Tasarımları A.Ş. (“BELENCO”), the leading quartz surfaces producer in Turkey.
Based in Manisa, BELENCO is Turkey's leading high quality quartz surfaces producer with exports to over 25 countries worldwide. As one of the companies belonging to the consortium of companies known as Peker Group, BELENCO has already a good financial standing and an aggressive growth strategy globally. Recently, BELENCO doubled its production capacity, aiming to become one of the largest players in the global quartz surfaces market.
Ms. Hande Peker Kuyumcu, majority shareholder of BELENCO, said “BELENCO is a very well structured company with a strong management team, the newest production technology and an attractive market positioning. We would like to build on our success with our new partners.”
Burak Dalgin, managing director of Darby in Turkey commented, “We hope to support BELENCO's continued growth in both the domestic and global quartz surfaces markets."
Darby manages two Central and South East Europe-dedicated closed funds, which collectively have made 24 investments in the region.
Financial details of the transaction were not disclosed.
About Darby Private Equity
Darby Private Equity was founded in 1994 by The Honorable Nicholas F. Brady, who served as U.S. Secretary of the Treasury between 1988 and 1993. Richard Frank joined the firm as CEO in 1997 after his career at the International Finance Corporation (IFC)/World Bank. In 2003, Darby became a fully owned subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments. For more information please visit darbyoverseas.com.
About Franklin Templeton Investments
Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 180 countries. Through specialized teams, the company has expertise across all asset classes – including equity, fixed income, alternative and custom solutions. The company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in 35 countries, the California-based company has more than 65 years of investment experience and over $739 billion in assets under management as of July 31, 2016. For more information, please visit franklintempleton.com.
Founded in 2010, has been proudly producing high-quality quartz surface slabs under the trademark “BELENCO” for a variety of uses and applications, such as countertops for kitchens, bathroom vanities, flooring and wall claddings. BELENCO produces its products with Italian state-of-the-art technology of BRETON. BELENCO recently doubled its manufacturing capacity. For more information, please visit belenco.com.
About Peker Group
Among other things, Peker Group is engaged in the construction contracting, electricity generation (including renewable energy such as hydropower and wind) and industrial production sectors. BELENCO is one of its latest industrial production investments. For more information, please visit peker.com.
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