Disintermediation takes root in Turkey

Duncan Kerr
Published on:

The country’s rapidly growing SMEs urgently need funding avenues other than those provided by the country’s banks. Some new options are beginning to emerge to solve that conundrum.

Sevket Basev is 38-years old and chief executive and a founding partner of Istanbul-based 3 Seas Capital Partners, an independent corporate finance boutique that specializes in mergers and acquisitions.

Back in 2003 the then 28-year old and three other partners founded the firm to capitalize on what they saw as a golden opportunity to provide independent, specialist M&A advice to mid to large-cap companies in Turkey.

At that time the Turkish M&A market was noticeable only by the absence of deals, but Basev and his partners were convinced their business idea was a good one and that sooner or later deal-making activity would blossom.

After a few barren years when they made little – their first client was Basev’s father and first deal was the disposal of the family business, which made folding doors – their bet has since paid off.

Today, the Turkish M&A market...