CEECAT Capital acquires a majority stake in Aygün surgical instruments
CEECAT Capital has acquired a majority stake in Aygün surgical instruments, the second largest manufacturer of sterilization container systems in the world. Aygün will continue to build upon its excellence in innovation to expand its product offering and increase penetration into its key markets.
Company: Aygün Surgical Instruments
Industry: Medical Devices
Deal Type: Growth Equity - Majority Buyout
Country: Turkey (+90% Exports)
Aygün is the first transaction of 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 invested over €650 million since 2005 to support the growth of SMEs and provide sources of capital during critical times in the region’s growth.
Aygün 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. Aygün 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 Aygün’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 Aygün has significant growth potential with its highly competitive positioning and strong export capabilities. We feel privileged to embark on this journey with Mehmet Tanyolac, 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 Aygün Family for the world class business they have built since 1988 and we look forward to working with Mehmet Aygün who will remain with the company to help guide it through its next growth phase.”
Mehmet Aygun, Founder of Aygün:
“Aygün 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.”
Mehmet Tanyolac, CEO of Aygün:
“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 Aygün 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 Aygün a leading global player in its field.”