Orion Capital Partners

Turkey, seen from France

Turkey, seen from France.

French groups have bought into Turkish logistics, aesthetic biotech, online bus ticketing, ventilation, music, rail components, insurance and renewable power. Orion works for French buyers in Turkey: we find the companies that fit, open the conversation with their owners in Turkish, and work alongside the Globalscope member firms in France.

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Turkish M&A transactions, January 2025 to September 2026649 announced transactions with a Turkish target. Each point is one transaction. Wedges are sectors and distance from the centre is time. A filled star has a disclosed value, sized by value; a hollow ring is undisclosed. Colour is the buyer’s origin.

Every point is a transaction with a Turkish target since January 2025. The lit ones had a buyer from France. Counted by the buyer’s own country.

Already in Turkey

French buyers in Turkey, 2023 to 2026.

TargetBuyerSectorValueDate
Borusan Lojistik, 100%CEVA Logistics (CMA CGM) FranceLogisticsUSD 383mCompleted Nov 2025
Burgeon BiyoteknolojiLaboratoires Vivacy FranceAesthetic biotechNot publishedMay 2025
Obilet, majorityBlaBlaCar FranceOnline bus ticketingNot publishedCompleted Dec 2024
Eneko Havalandırma, 50%Groupe Atlantic FranceVentilation equipmentNot publishedCompleted Oct 2024
Doğan Music Company, 40% (to 100%)Believe FranceMusicEUR 38.3mCompleted Sep 2024
Duray Ulaşım SistemleriAlstom FranceRail componentsNot publishedJul 2024
Rönesans Enerji, 50%TotalEnergies FranceRenewable powerNot publishedAnnounced Jul 2023
Groupama Sigorta and Groupama Hayat, 100%AXA FranceInsuranceNot publishedCompleted May 2023

Values as published; sources are linked.

Globalscope Partners in France

Your adviser at home, and ours in Turkey.

Orion is the Turkish member of Globalscope Partners, with member firms in 51 countries. If you work with a Globalscope member firm in France, that firm and Orion run a Turkish transaction as one team: your adviser at home, Orion in Turkey.

Globalscope Partners

Transactions advised by Globalscope member firms in France

More on the network

The Turkish market, nine months of 2026

255transactions with a Turkish target
USD 7.8bndisclosed value
USD 7mmedian disclosed deal
20%with a foreign buyer
France 6Istanbul

Transactions in Turkey by buyers from France, January 2025 to September 2026.

Source: Orion Capital Partners’ register of Turkish M&A, January 2025 to September 2026. The full market view

How we work for you

From the map to the table in four steps.

  1. 01

    The market

    Who has bought in your sector, from where, at what value and on what terms: we start from the transactions already done in Turkey.

  2. 02

    The long list

    Companies screened for size, ownership and fit with your strategy, each with a short profile and the reason it fits.

  3. 03

    The approach

    We reach owners in Turkish, through people who know them. With a family owner the first conversation is usually about more than price.

  4. 04

    The transaction

    Valuation, non-binding offer, due diligence, agreement and completion, with lawyers and auditors coordinated and regulatory filings planned with your counsel.

What buyers ask us

Before you look at a Turkish company.

  1. 01

    How do you value a Turkish company?

    In euros or US dollars, on figures restated from the Turkish statutory accounts, with the exchange-rate basis stated. We separate real growth from price effects before we talk about multiples.

  2. 02

    What approvals are needed?

    Transactions that change control and exceed the turnover thresholds need clearance from the Turkish Competition Board, and sectors such as banking, energy, media and defence have their own regulators. We build the timetable around them with your counsel.

  3. 03

    How does a conversation with a family owner go?

    The first conversation is with the family, in Turkish, and usually about more than price: the name, the employees, the role of the next generation. The buyer who addresses these early stays at the table.

  4. 04

    Can you work alongside our own advisers?

    Yes. We work with your advisers in the region and, when a transaction needs reach beyond Turkey, with Globalscope Partners member firms in 51 countries.

Start with a conversation.

A first conversation is confidential and carries no obligation.