CEECAT Capital acquires a majority stake in Aygun Surgical Instruments
CEECAT Capital, a leading regional private equity investor focused on the high growth markets of Emerging Europe has acquired a majority stake in Aygun Surgical Instruments, the second largest manufacturer of sterilization container systems in the world. With its new partner’s support, Aygun contemplates new acquisitions in Western Europe and aims to continue to build upon its excellence in innovation and production.
New Fund’s first investment goes to the supplier of the world’s leading medical devices brands
Aygun is the first transaction of the CCL CEECAT Fund II, which secured €120million of commitments in March 2021 from institutional investors including EIF, EBRD, regional pension funds, endowments and family offices. The CEECAT team has been active in the region since 2005, with nearly €700 million invested in the areas of industry, consumer, healthcare and business services. CEECAT Capital operates with a team of 25 people out of 5 offices - Luxembourg, London, Bucharest, Istanbul and Almaty. The Fund will continue targeting new growth equity investments in the rapidly expanding small and mid-cap segment in Emerging Europe.
Exports to over 100 countries in 5 continents with a particular focus on Western Europe
Aygun is the second largest manufacturer of sterilization container systems in the world and the first and leading surgical motor systems manufacturer in the local market. Aygun generates almost all of its revenues from exports to over 100 countries in 5 continents with a particular focus on Western Europe. Medical Illumination Systems and Single Use Medical Products are two new product groups that are ready to be commercialized by the end of the year.
Anthony Stalker, Partner of CEECAT Capital: We are impressed by Aygun’s excellence in manufacturing and passion for innovation
“We are impressed by Aygun’s excellence in manufacturing and passion for innovation and we feel extremely lucky to have the chance to partner with such a dedicated management team. We believe that Aygun has significant growth potential with its highly competitive positioning and strong export capabilities. We feel privileged to embark on this journey with Mehmet Tanyolaç, our new CEO, who we believe is a great match for our future plans with his strong experience in the industry as well as in the international markets. I want to also pay tribute to the Aygun Family for the world class business they have built since 1988 and we look forward to working with Mehmet Aygun who will remain with the company to help guide it through its next growth phase.” said Anthony Stalker.
Mehmet Aygün, Founder of Aygun: We are now embarking on an exciting journey with CEECAT Capital as we embark on a new growth phase for our company
“Aygun Surgical Instruments is the first and largest manufacturer of surgical motor systems in Turkey. 34 years ago, we started in a small workshop but with a huge passion for what we do. Today, we are not only producing high technology medical devices but we are also designing and exporting them around the globe. We are now embarking on an exciting journey with CEECAT Capital as we embark on a new growth phase for our company. I would like to express my gratitude for my precious team who dedicated their heart and strong abilities into this business and enabled this partnership.” said Mehmet Aygun.
Mehmet Tanyolaç, CEO of Aygun: This strong partnership will enable Aygun to achieve a significant global growth
“This is a partnership of two excellent cultures and competencies. Each partner had demonstrated sustainable success in their respective fields. This strong partnership will certainly enable Aygun to achieve significant global growth. I am honored and excited to be a part of such a strong alliance and I am very confident that together, we will make Aygun a leading global player in its field.” said Mr. Tanyolac.