Metric Capital Partners LLP (“MCP”) and local partner Afendis Capital have led an international consortium of investors in completing a structured investment in Turkish generic pharmaceutical manufacturer Sanovel İlaç Sanayi ve Ticaret A.Ş. (“Sanovel” or the “Company”).
Sanovel manufactures pharmaceutical products for a number of treatment areas including cardiovascular disease, respiratory ailments, gastrointestinal ailments, anti-diabetics, and antihistaminics. The Company manufactures its portfolio of market-leading brands in a US FDA-approved manufacturing facility close to Istanbul.
John Sinik, Managing Partner of Metric Capital, said: “Sanovel supplies essential pharmaceutical products to the fast-growing domestic Turkish market, which is underpinned by strong government policy initiatives and favourable demographic trends. Our investment will allow Sanovel to build on its entrenched position within this attractive market with the pursuit of new product development and export channels”. Mehmet Ilkin, Managing Partner of Afendis, who has joined the Company’s board of directors added: “The investment by the consortium reaffirms the strong fundamentals of the Turkish economy and will hopefully help attract more investment in the country”.
About Metric Capital
MCP is an independent pan-European private capital group that invests in European firms by creating tailor-made capital solutions and seeks to support their ambitions by enabling them to execute strategic transactions. Metric Capital Partners aim to be a value-add partner to the companies in which it invests.
Metric Capital Partners has raised in excess of €2.6bn of capital over four funds since its inception in 2012.
For further information please contact:
John Sinik, Managing Partner, Metric Capital Partners, Tel: +44 203 540 1558
Bjørn Tessiore, Partner, Metric Capital Partners, Tel: +44 203 540 1551