One of the worlds foremost investors in growth markets, the Abraaj Group, has announced their acquisition of a significant minority stake in Turkish company Netlog Lojistik Hizmetleri AS, a leading integrated logistics firm that has a domineering presence in Europe and Asia.
Abraaj has proven time and again that they have a powerful track record of investments made in the logistics sector across the world.
The logistics sector will continue to play a vital role in the long-term strategic development of Turkey, reinforced by the governments plans to further upgrade its logistics infrastructure by 2023, with a focus on high-speed rail, motorways and container port facilities. As the most diversified logistics company in Turkey, Netlog is competitively placed to benefit from these growth drivers.
Utilising Abraajs experience in the sector, Netlog will accelerate its growth by investing in infrastructure and extending its footprint across MENA and Europe through organic and inorganic opportunities. The Group will continue to institutionalize the business through implementation of best in class corporate governance, environmental and social standards.
Commenting on the transaction, ?ahap Çak, chairman, Netlog, said: Having grown Netlog to become one of Turkeys top 100 companies, we are excited to embark on this new journey with Abraaj. They recognize the value the Netlog leadership and senior management team have brought to the business and are fully aligned with our growth plans. We look forward to utilizing Abraajs expertise as we seek to achieve our vision of becoming the pre-eminent logistics player in our target markets.
Gökalp Çak, vice chairman, Netlog, added: Since 2003, Netlog has not only grown to become Turkeys leading logistics company but also the most diversified through our niche offerings. With Abraaj, we have found a partner that shares our commitment to accelerate Netlogs growth and widen our value-added services, such as temperature-controlled logistics and e-commerce logistics, across Europe and the Asia region. Our partnership with Abraaj will also enable us to transition from a family-business to an institutionalized corporate with a sustainable and long-term future.