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Turkey logistics investment continues

ISTANBUL: July 27, 2017. Private equity manager Abraaj Group has acquired an unspecified "significant minority" stake in Netlog Lojistik Hizmetleri, one of Turkey's largest integrated logistics companies.

Sahap and Gokalp Cak, who founded Netlog in 2003, will retain a majority share and continue to manage the company that operates 3,200 trucks in support of a range of industrial sectors including FMCG, food and beverage, retail and fashion.

NETLOGCommenting on the investment Netlog chairman Sahap Çak said: "Having grown Netlog to become one of Turkey's 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."

Netlog offers a range of supply chain solutions including warehousing, domestic and international trucking and freight forwarding via a network of over 65 warehouses, with a combined area of more than 1.1 million square meters.

The company's PolarXP subsidiary operates a warehouse and distribution network for temperature-controlled logistics and another subsidiary, Bleckmann, provides e-commerce services for the fashion industry in Belgium, the Netherlands, UK and U.S.

Vice chairman Gökalp Çak noted: "With Abraaj we have found a partner that shares our commitment to accelerate [the company's] growth and widen our value-added services, such as temperature-controlled logistics and e-commerce logistics, across Europe and the Asia region."

Abraaj says logistics in Turkey is a compelling sector in which to invest because of the country's strategic location, favorable consumer and regulatory trends, and government infrastructure plans to upgrade high-speed rail, motorways and container port facilities by 2023.

Selçuk Yorgancıoğlu, Abraaj Group partner and regional head of Turkey and Central Asia added: "Our partnership with Netlog marks Abraaj's tenth investment in Turkey. This is testament to our conviction about the attractive long-term fundamentals of the economy. Turkey's geostrategic location creates a huge number of opportunities for the country's most dynamic businesses to grow beyond their borders."

In February this year Samskip Multimodal and Intercombi Transport (ICL), a subsidiary of Netlog, introduced a fourth regular train service between Duisburg and the port of Trieste to link with the U.N. Ro-Ro service to Turkey.

"The frequency increase vindicates the principles behind GreenBridge, which combines the benefits of Samskip's European multimodal network and Intercombi's in-depth industry expertise in the Turkish market," said Marcel Delmee, Greenbridge manager for Multimodal Services, Turkey Trades.

In May 2014 TNT Express sold its specialist fashion supply chain business in the Netherlands to a consortium of Belspeed and Netlog. The enterprise had annual revenue of €120 million at the time.

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