M&A advisory · Istanbul
Orion Capital Partners advises international groups and investors on acquiring, selling and raising capital in Turkey.
Since January 2023, one Turkish transaction in five has had a foreign buyer, from 52 countries. See who is buying in your sector
Member of
Twenty years of Turkish M&A
2007 to 2008
USD19.3bn
Deal value was USD 19.3bn in 2007, and in 2008 foreign investors supplied 85% of the year’s value.
2009
USD5.2bn
Value fell to USD 5.2bn across 101 transactions, the fewest from 2007 to 2025.
2010 to 2012
USD22bn
Value reached USD 22bn in 2012, the highest of the twenty years, with privatisations at their peak.
2013 to 2016
USD7.3bn
In 2016 value fell to USD 7.3bn while the count held at 248: buyers kept coming, with smaller tickets.
2017 to 2019
USD5.3bn
In 2019 value was USD 5.3bn, and foreign investors supplied 64% of it.
2020 to 2022
USD11.5bn
Value more than doubled from 2019 to USD 11.5bn in 2022, across 415 transactions, then a record.
2023 to 2026
USD16.2bn
Value reached USD 16.2bn in 2025, the highest in ten years. 2026 to September: USD 7.8bn in disclosed prices.
2008 to 2025
13of 18 years
In 13 of the 18 years from 2008 to 2025, foreign investors supplied half or more of Turkish deal value.
What we do
For international groups and funds selling a business in Turkey. We find the buyers most likely to value it, in Turkey and abroad, and run a confidential process to signing.
02For strategic buyers and funds acquiring a company in Turkey. We map the market, find the companies that fit, open the conversation with their owners in Turkish, and stay with you through diligence to completion.
03Growth equity, minority partners and acquisition finance, from investors we know rather than a mailing list.
04A reasoned view of value, and a clear picture of what a buyer will question, before you decide to go to market.
Who buys in Turkey
Since January 2023, more than half of Turkey’s foreign buyers have come from Europe, and most of those were strategic buyers taking control. If your buyer comes from abroad, it is most likely a European company, and it will usually want control.
175
transactions with a European buyer
141
of them by European strategic buyers
101
of those for control of the Turkish company
Turkey, seen from: EuropeUnited StatesGermanyUnited KingdomFranceBelgiumItalySwedenJapanthe Gulf
Source: Orion Capital Partners’ register of Turkish M&A, January 2023 to September 2026. A buyer’s country is its headquarters.
Buyers in your sector
Where the foreign buyers came from
Foreign groups that bought Turkish companies in this sector
Abroad, in the same sector: transactions advised by Globalscope member firms
We will tell you which buyers, in Turkey and abroad, would look at your company. Nothing you ask us is shared.
Orion Capital Partners’ register of Turkish M&A, January 2023 to September 2026; the counts above are since January 2025.
Turkish buyers make four in five consumer and food deals in Turkey. Foreign buyers come mainly for one of two things: a brand that leads its category, or a plant that can supply their markets abroad.
Read the noteForeign groups enter Turkish financial services by buying a company that already holds the licence, and business services by buying contracts that take years to win; the regulator sets the timetable.
Read the noteTurkish property is bought by Turkish buyers: listed REITs and companies that already run shopping centres are buying them from foreign owners. In construction, foreign capital goes mostly to cement.
Read the noteGlobalscope Partners
Orion is the Turkish member of Globalscope Partners, with member firms in 51 countries. When the right buyer is abroad, the member firm in that market works with us from the first approach to signing.
Recent cross-border transactions by member firms
Univerzum Group Serbia
Sold to Wienerberger Austria
A Globalscope member firm in Serbia advised the seller
DataConsult Poland
Sold to Elvaston Germany
A Globalscope member firm in Germany advised the seller
Triangle Recruitment United Kingdom
Sold to Eclectic Talents Group Ukraine
A Globalscope member firm in Ukraine advised the buyer
Koen Pack Netherlands
Sold to PPC Flex United States
A Globalscope member firm in the Netherlands advised the seller
Flora Health Canada
Sold to Kokusai Naturista Mexico
A Globalscope member firm in Mexico advised the buyer
TelLab Ireland
Sold to Celnor Group United Kingdom
A Globalscope member firm in Ireland advised the seller
Sources: Orion Capital Partners’ register of Turkish M&A, January 2023 to September 2026; Globalscope Partners.
Working with Orion
From the first meeting to signing, we speak for you to the other side, in Turkish and in English.
Levent, Istanbul · Turkish and English
Managing Partner
More than 20 years in the industry, leading cross-border transactions of different sizes to completion. Corporate finance at AIG in New York, on five major divestitures. On the board of Globalscope Partners from 2021 to 2025. MBA, University of Illinois Urbana-Champaign.
Partner
More than 20 years of founding, running, growing and selling companies. Previously a partner at an M&A advisory firm with offices in San Francisco, Madrid and Istanbul. Founder of food businesses and an investor in technology companies. Graduate of METU.
A first conversation is confidential and carries no obligation.
