TURKEY - Bridgepoint acquires TüvTurk

TüvTurk was founded in 2005 when its three institutional backers - German sector player TÜV SÜD, Turkish corporate Doðuþ and Turkish infrastructure investor Akfen - won a tender for a 20-year concession to operate vehicle inspection stations in Turkey. The sale was triggered by the decision by Akfen to realise its investment.

Incumbent lenders, including Bayerische Hypo - Und Vereinsbank AG, Garanti Bank, Finansbank and Vakýfbank, rolled over their existing commitments to the business.

The Istanbul-based company owns 189 stations across the country and has franchises covering 81 regions. Under the terms of the concession agreement, TüvTurk pays a percentage of the inspection fees collected to the Turkish Government.

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