Carlyle makes first Turkish buy

Carlyle said on Thursday that it has acquired a 50% stake in TVK Shipyard (TVK), a Turkish shipbuilder specialising in chemical tankers and other specialty vessels, marking its first investment in Turkey.

The deal closed on Wednesday. Financial details have not yet been disclosed.

“Partnering with Carlyle will enable TVK to expand capacity and enable the production of more sophisticated vessels at a faster rate than what we could have achieved alone,” said Can Topsakal, TVK’s co-founder and chief executive.

Topsakal founded TVK in 2005 with businessmen Naim Kocer, and former production manager of Turkey’s largest shipyard, Turgut Atagun.