NBK Capital announced today that it has successfully acquired a 50% stake in Bavet, a leading distributor of animal pharmaceuticals in Turkey. The capital will be used to finance Bavet’s significant expansion plans and enhance its corporate infrastructure. The investment was made through NBK Capital Equity Partners Fund I, the firm’s flagship private equity fund focusing on middle market growth and expansion opportunities in the MENA region.
Bavet was established in 2000 by industry veteran Zekeriya Nergiz and is a leading distributor of proprietary animal pharmaceuticals targeting a wide client base of veterinaries and organized farms in Turkey. The company has significantly outperformed the rapidly expanding local market driven by on-going launches of quality products sourced from prominent international producers and a highly experienced sales force, both positioning Bavet as a prime local brand among Turkish animal pharmaceutical companies.
“We look forward to implementing our long term strategies with NBK Capital, we have great confidence that the strategic and financial expertise of the team will enable us to achieve our goals successfully” said Zekeriya Nergiz, Chairman of Bavet. “The investment will be used to strengthen Bavet’s financial standing and will allow us to further expand our operations”.
Amjad Ahmad, Senior Managing Director at NBK Capital stated, “Our active ownership approach, reinforced by our local presence in Turkey and close partnership with the current management team, will accelerate the growth trajectory of the company. Bavet’s strong brand and leadership position will allow it to better capitalize on growth opportunities in Turkey and the surrounding region.”
Ahmet Tataroglu, Executive Director added, “The proven track record of the company’s management, its established brand and its strong market presence have combined to create the ideal investment for our fund.”