Sector note · Industrials
Supplying Europe from Turkey
European industrial groups buy Turkish manufacturers that already supply European customers, and they buy for control.
Named deals
- 1Murat Ticaret Volex · about USD 194.5m · 2023
- 2Volt Electric Motors WEG · USD 88m · 2024
- 3Ezel Cıvata, majority OBO Bettermann · value not disclosed · 2026
- 01
Since January 2023, 31 transactions in Turkish industrials have had a foreign buyer, 18 of them European; 20 of the 31 took the whole company or a majority.
- 02
Turkish automotive exports reached USD 41.5bn in 2025, up 11.6%; EU countries took 72.5% and Germany was the largest single market at USD 6.61bn.
OİB figures, Ekonomi Gazetesi, 6 January 2026
Capital, 6 January 2026 - 03
Among larger Turkish industrial companies, 91% export.
- 04
Volex agreed in June 2023 to buy all of Murat Ticaret, a wire-harness maker whose customers include four of the world’s five largest agricultural equipment makers, for up to EUR 178.1m.
- 05
OBO Bettermann bought a majority of Ezel Cıvata, a fastener maker near Izmir supplying automotive and engineering customers, in July 2026; the founding family keeps a stake and runs the business.
Orion view
For a European group, a Turkish supplier is capacity that has already passed its customers’ audits. That is what the price pays for, so show it in numbers: sales by European customer and by currency. Most of these companies have never had an outside investor, and the buyer’s first question is how the business runs without its founder. Answer it before it is asked.
Sources: as cited above, read October 2026; Orion Capital Partners analysis.
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