July 17, 2008
Carlyle Group takes stake in Turkish shipyard
The Carlyle Group has acquired a 50 percent stake in TVK Shipyard, a Turkish shipbuilder specializing in chemical tankers and other specialty vessels. This is Carlyle's first investment in Turkey. The transaction closed yesterday and financial terms were not disclosed.
TVK was incorporated in 2005 in the Kocaeli Free Trade Zone and specializes in chemical tankers of up to 30,000 dwt.
"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," says TVK founder and CEO Can Topsakal. "Through the addition of a second slipway already under construction, we anticipate doubling our production by the end of the year."