The European Environment Agency (EEA) provides information to support environmental policy in Europe. It works through a network of organizations called Eionet that includes National Focal Points and European Topic Centres. One topic centre focuses on noise and advises the EEA and EU organizations on noise-related issues. This includes implementing the Environmental Noise Directive, developing common noise assessment methods, and publishing reports on recommended noise guidelines and health impacts of road traffic noise in Europe. The EEA also collaborates with the EPA Network, an informal group of environmental agencies, to share experiences and work towards harmonization of noise monitoring, reduction measures, and limit values across Europe.
Communiqué features articles focusing on the latest hot topics for anesthesiologists, nurse anesthetists, pain management specialists and anesthesia practice administrators.
Communique is created by Anesthesia Business Consultants (ABC), the largest physician billing and practice management company specializing exclusively in the practice of anesthesia and pain management.
ABC serves several thousand anesthesiologists and CRNAs nationwide with anesthesia billing software solutions.
Please send your email address to info [at] anesthesiallc [dot] com if you would like to join the Communique mailing list!
Visit www.anesthesiallc.com for more information!
Peter Schleidt outlines Danske Bank's "One Platform" strategy which aims to standardize concepts, practices, and systems across the bank for improved efficiency while allowing brands autonomy in customer interactions. The strategy seeks to create a single IT platform and shared services to develop products and processes once for use across all of Danske Bank. Danske Bank's development organization aims to be the most value-creating and efficient in financial services by prioritizing innovations, open standards, and outsourcing operations to reduce costs.
Qwest reported third quarter 2004 results with improved revenue trends driven by wireline and wireless segments. Revenue increased slightly compared to last quarter but decreased year-over-year. Cost reduction initiatives expanded margins while cash from operations exceeded capital expenditures. Key growth areas like DSL subscribers and long-distance lines increased significantly.
Qwest reported improved second quarter results, with revenue increasing slightly both sequentially and year-over-year. Operating income and margins expanded due to ongoing cost reduction efforts. Key growth areas like high-speed internet, bundled services, and wireless saw subscriber increases. Cash flow from operations exceeded capital expenditures, and debt was reduced by over $850 million from the previous year.
2009: Særmagasin: Kina - det nye nærmarked. Opgøret med VestenAnders Rostgaard
Kinas transformation fra underudviklet land mod verdensmagt går stærkt – og stærkere end de fleste tror. Danske virksomheder som Vestas, Grundfos og Danfoss kæmper for at følge med i det høje tempo. Tag i syv kapitler med på besøg hos danske firmaer i Kina, der i øjeblikket tager del i “Kinas renæssance.”
The European Environment Agency (EEA) provides information to support environmental policy in Europe. It works through a network of organizations called Eionet that includes National Focal Points and European Topic Centres. One topic centre focuses on noise and advises the EEA and EU organizations on noise-related issues. This includes implementing the Environmental Noise Directive, developing common noise assessment methods, and publishing reports on recommended noise guidelines and health impacts of road traffic noise in Europe. The EEA also collaborates with the EPA Network, an informal group of environmental agencies, to share experiences and work towards harmonization of noise monitoring, reduction measures, and limit values across Europe.
Communiqué features articles focusing on the latest hot topics for anesthesiologists, nurse anesthetists, pain management specialists and anesthesia practice administrators.
Communique is created by Anesthesia Business Consultants (ABC), the largest physician billing and practice management company specializing exclusively in the practice of anesthesia and pain management.
ABC serves several thousand anesthesiologists and CRNAs nationwide with anesthesia billing software solutions.
Please send your email address to info [at] anesthesiallc [dot] com if you would like to join the Communique mailing list!
Visit www.anesthesiallc.com for more information!
Peter Schleidt outlines Danske Bank's "One Platform" strategy which aims to standardize concepts, practices, and systems across the bank for improved efficiency while allowing brands autonomy in customer interactions. The strategy seeks to create a single IT platform and shared services to develop products and processes once for use across all of Danske Bank. Danske Bank's development organization aims to be the most value-creating and efficient in financial services by prioritizing innovations, open standards, and outsourcing operations to reduce costs.
Qwest reported third quarter 2004 results with improved revenue trends driven by wireline and wireless segments. Revenue increased slightly compared to last quarter but decreased year-over-year. Cost reduction initiatives expanded margins while cash from operations exceeded capital expenditures. Key growth areas like DSL subscribers and long-distance lines increased significantly.
Qwest reported improved second quarter results, with revenue increasing slightly both sequentially and year-over-year. Operating income and margins expanded due to ongoing cost reduction efforts. Key growth areas like high-speed internet, bundled services, and wireless saw subscriber increases. Cash flow from operations exceeded capital expenditures, and debt was reduced by over $850 million from the previous year.
2009: Særmagasin: Kina - det nye nærmarked. Opgøret med VestenAnders Rostgaard
Kinas transformation fra underudviklet land mod verdensmagt går stærkt – og stærkere end de fleste tror. Danske virksomheder som Vestas, Grundfos og Danfoss kæmper for at følge med i det høje tempo. Tag i syv kapitler med på besøg hos danske firmaer i Kina, der i øjeblikket tager del i “Kinas renæssance.”
The document summarizes a corporate governance initiative in the Baltic states. It establishes the Baltic Institute of Corporate Governance to advance corporate governance principles, educate board members, and provide guidance to companies. It outlines the executive committee and board members, and describes executive education programs to certify professional board members. The programs are led by experienced international experts and focus on practical workshops and examinations. The goal is to improve understanding of corporate governance and its benefits, such as better access to capital and growth.
Medicines for Malaria Venture (MMV) is a leading product development partnership focused on developing new antimalarial drugs. In 2015, MMV brought forward its second pediatric antimalarial treatment approved by the European Medicines Agency. MMV supported 65 drug development projects in 2015, with 8 advancing to clinical trials targeting needs like treatments for children, pregnant women, and drug resistant malaria. MMV is expanding partnerships and pursuing new initiatives like open access drug discovery to accelerate progress toward the goal of eradicating malaria.
Creando un gran lugar para trabajar costa ricaEduardo Gómez
Este documento describe los servicios de una organización en Costa Rica que ayuda a empresas a crear lugares de trabajo positivos mediante el desarrollo de la psicología positiva en los empleados. Sus servicios se centran principalmente en dos acciones: el autoconocimiento y el aumento de los niveles de responsabilidad de los empleados. La aplicación de estas estrategias conduce a mayores niveles de felicidad, compromiso y productividad en el trabajo.
Value-oriented investment firm that commits people, capital, and fortitude to help address the critical issues facing public companies. Includes company, market and strategy overview.
Note: Confidential and proprietary information omitted from public version.
9th Inter-Parliamentary Meeting on Renewable Energy and Energy EfficiencyAlliance To Save Energy
The document summarizes a presentation by Kateri Callahan, President of the Alliance to Save Energy, on energy efficiency policy under the Obama Administration. Key points include:
- The Obama Administration has been a "game changer" for energy efficiency policy, allocating $65 billion for efficiency in the stimulus package and establishing new efficiency standards and programs.
- Major legislation like the stimulus package and proposed climate bills allocate significant funding for energy efficiency initiatives and are expected to create hundreds of thousands of new green jobs.
- International agreements on issues like clean energy research and codes and standards harmonization are helping set a framework for global cooperation on efficiency.
- Looking ahead, continued federal support for efficiency combined with
60969_Orsted2003-Morten Høgholm Pedersen-New Digital Techniques in Medical Ul...Morten Høgholm Pedersen
This document is a PhD thesis on new digital techniques in medical ultrasound scanning. It contains four main sections. The first section provides background on 3D ultrasound imaging, scanning techniques, and visualization methods. The second section describes a clinical trial using 3D ultrasound to stage cervical cancer in patients. Results showed 3D ultrasound was comparable to MRI and histology in evaluating tumor size and invasion. The third section discusses a pre-clinical trial using coded excitation to improve ultrasound image quality. Initial results found coded excitation increased penetration depth and reduced sidelobe artifacts. The fourth section concludes the thesis and discusses perspectives on using these new digital ultrasound techniques clinically.
Qwest Communications reported first quarter earnings of $0.09 per diluted share. Total debt was reduced by $333 million in the first quarter and $500 million year-to-date through debt payments and exchanges. Operational highlights included signing up 530,000 access lines for long-distance service and a third consecutive quarter of improved consumer access line losses. Qwest provided updates on its financial restatement process and debt reduction activities.
1) This study compared long-term outcomes of 626 STEMI patients treated with primary PCI who were randomized to drug-eluting stents (DES, n=313) or bare-metal stents (BMS, n=313).
2) At 3 years, the rate of major adverse cardiac events (MACE), including death, MI, and target lesion revascularization (TLR), was significantly lower in the DES group compared to the BMS group (10.5% vs 16.3%, p=0.024).
3) Rates of cardiac death (4.2% vs 6.1%), MI (6.1% vs 8.9%), and TLR (3
2010: Særmagasin: KINA - TRUSSEL ELLER MULIGHED?Anders Rostgaard
Rå, balstyrisk og æggende. Velkommen til eksperimentet Kina SIDE 10
Guide: Her er de danske virksomheder i Kina SIDE 46
RIGDOM: MØD KINAS SOLCELLEMILLIARDÆR SIDE 52
Advarsel: Derfor skal du tage Kina alvorligt SIDE 30
Marina Lønning er divisjonsdirektør i Telenor Norge med ansvar for bedriftsmarkedet. Hun vil presentere Telenors strategi med hovedfokus på hvordan Telenor møter endringene i bedriftsmarkedet hvor den enkelte medarbeider stadig får større makt og innflytelse.
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineCIOWomenMagazine
In this article, we will dive into the extraordinary life of Ellen Burstyn, where the curtains rise on a story that's far more attractive than any script.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
The document summarizes a corporate governance initiative in the Baltic states. It establishes the Baltic Institute of Corporate Governance to advance corporate governance principles, educate board members, and provide guidance to companies. It outlines the executive committee and board members, and describes executive education programs to certify professional board members. The programs are led by experienced international experts and focus on practical workshops and examinations. The goal is to improve understanding of corporate governance and its benefits, such as better access to capital and growth.
Medicines for Malaria Venture (MMV) is a leading product development partnership focused on developing new antimalarial drugs. In 2015, MMV brought forward its second pediatric antimalarial treatment approved by the European Medicines Agency. MMV supported 65 drug development projects in 2015, with 8 advancing to clinical trials targeting needs like treatments for children, pregnant women, and drug resistant malaria. MMV is expanding partnerships and pursuing new initiatives like open access drug discovery to accelerate progress toward the goal of eradicating malaria.
Creando un gran lugar para trabajar costa ricaEduardo Gómez
Este documento describe los servicios de una organización en Costa Rica que ayuda a empresas a crear lugares de trabajo positivos mediante el desarrollo de la psicología positiva en los empleados. Sus servicios se centran principalmente en dos acciones: el autoconocimiento y el aumento de los niveles de responsabilidad de los empleados. La aplicación de estas estrategias conduce a mayores niveles de felicidad, compromiso y productividad en el trabajo.
Value-oriented investment firm that commits people, capital, and fortitude to help address the critical issues facing public companies. Includes company, market and strategy overview.
Note: Confidential and proprietary information omitted from public version.
9th Inter-Parliamentary Meeting on Renewable Energy and Energy EfficiencyAlliance To Save Energy
The document summarizes a presentation by Kateri Callahan, President of the Alliance to Save Energy, on energy efficiency policy under the Obama Administration. Key points include:
- The Obama Administration has been a "game changer" for energy efficiency policy, allocating $65 billion for efficiency in the stimulus package and establishing new efficiency standards and programs.
- Major legislation like the stimulus package and proposed climate bills allocate significant funding for energy efficiency initiatives and are expected to create hundreds of thousands of new green jobs.
- International agreements on issues like clean energy research and codes and standards harmonization are helping set a framework for global cooperation on efficiency.
- Looking ahead, continued federal support for efficiency combined with
60969_Orsted2003-Morten Høgholm Pedersen-New Digital Techniques in Medical Ul...Morten Høgholm Pedersen
This document is a PhD thesis on new digital techniques in medical ultrasound scanning. It contains four main sections. The first section provides background on 3D ultrasound imaging, scanning techniques, and visualization methods. The second section describes a clinical trial using 3D ultrasound to stage cervical cancer in patients. Results showed 3D ultrasound was comparable to MRI and histology in evaluating tumor size and invasion. The third section discusses a pre-clinical trial using coded excitation to improve ultrasound image quality. Initial results found coded excitation increased penetration depth and reduced sidelobe artifacts. The fourth section concludes the thesis and discusses perspectives on using these new digital ultrasound techniques clinically.
Qwest Communications reported first quarter earnings of $0.09 per diluted share. Total debt was reduced by $333 million in the first quarter and $500 million year-to-date through debt payments and exchanges. Operational highlights included signing up 530,000 access lines for long-distance service and a third consecutive quarter of improved consumer access line losses. Qwest provided updates on its financial restatement process and debt reduction activities.
1) This study compared long-term outcomes of 626 STEMI patients treated with primary PCI who were randomized to drug-eluting stents (DES, n=313) or bare-metal stents (BMS, n=313).
2) At 3 years, the rate of major adverse cardiac events (MACE), including death, MI, and target lesion revascularization (TLR), was significantly lower in the DES group compared to the BMS group (10.5% vs 16.3%, p=0.024).
3) Rates of cardiac death (4.2% vs 6.1%), MI (6.1% vs 8.9%), and TLR (3
2010: Særmagasin: KINA - TRUSSEL ELLER MULIGHED?Anders Rostgaard
Rå, balstyrisk og æggende. Velkommen til eksperimentet Kina SIDE 10
Guide: Her er de danske virksomheder i Kina SIDE 46
RIGDOM: MØD KINAS SOLCELLEMILLIARDÆR SIDE 52
Advarsel: Derfor skal du tage Kina alvorligt SIDE 30
Marina Lønning er divisjonsdirektør i Telenor Norge med ansvar for bedriftsmarkedet. Hun vil presentere Telenors strategi med hovedfokus på hvordan Telenor møter endringene i bedriftsmarkedet hvor den enkelte medarbeider stadig får større makt og innflytelse.
Ellen Burstyn: From Detroit Dreamer to Hollywood Legend | CIO Women MagazineCIOWomenMagazine
In this article, we will dive into the extraordinary life of Ellen Burstyn, where the curtains rise on a story that's far more attractive than any script.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Cover Story - China's Investment Leader - Dr. Alyce SUmsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Prescriptive analytics BA4206 Anna University PPTFreelance
Business analysis - Prescriptive analytics Introduction to Prescriptive analytics
Prescriptive Modeling
Non Linear Optimization
Demonstrating Business Performance Improvement
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Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
During the budget session of 2024-25, the finance minister, Nirmala Sitharaman, introduced the “solar Rooftop scheme,” also known as “PM Surya Ghar Muft Bijli Yojana.” It is a subsidy offered to those who wish to put up solar panels in their homes using domestic power systems. Additionally, adopting photovoltaic technology at home allows you to lower your monthly electricity expenses. Today in this blog we will talk all about what is the PM Surya Ghar Muft Bijli Yojana. How does it work? Who is eligible for this yojana and all the other things related to this scheme?
The report *State of D2C in India: A Logistics Update* talks about the evolving dynamics of the d2C landscape with a particular focus on how brands navigate the complexities of logistics. Third Party Logistics enablers emerge indispensable partners in facilitating the growth journey of D2C brands, offering cost-effective solutions tailored to their specific needs. As D2C brands continue to expand, they encounter heightened operational complexities with logistics standing out as a significant challenge. Logistics not only represents a substantial cost component for the brands but also directly influences the customer experience. Establishing efficient logistics operations while keeping costs low is therefore a crucial objective for brands. The report highlights how 3PLs are meeting the rising demands of D2C brands, supporting their expansion both online and offline, and paving the way for sustainable, scalable growth in this fast-paced market.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
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AI Transformation Playbook: Thinking AI-First for Your BusinessArijit Dutta
I dive into how businesses can stay competitive by integrating AI into their core processes. From identifying the right approach to building collaborative teams and recognizing common pitfalls, this guide has got you covered. AI transformation is a journey, and this playbook is here to help you navigate it successfully.
AI Transformation Playbook: Thinking AI-First for Your Business
Mid Market M&A Turkey 2012
1. Mid Market M&A Review
2012
market PE’s are formed. There is still a way to
SBB Capital -Sunbelt Network, is an go for both SME owners and PE’s to have a
independent consultancy firm specialized in common understanding, especially on
mid market M&A deals headquartered in USA. reporting standards and management styles.
Since 2010 the company has been operating in Lots of mid market deals with PEs failed in the
Turkish market. Despite the fact that the tortuous due diligence process.
process is quite similar to large scaled deals,
mid market has its unique dynamics. Similar to Both strategic investors and PE’s ask for the
the difference between a marathon and a 100 detailed business plan of 3-5 years from the
m race in athletics. target companies. SMEs should prepare a
reliable but attractive business plan supported
Although M&A is a quite new approach for by last 3 years actual performances. Most of
SME owners and managers, it is blooming SME’s have discrepancies between the
rapidly among the companies and the investors financial reporting and corporate governance.
who find those transactions appealing. To be Thus, it is getting harder for investors to
able to follow the fast changing segment evaluate the real performance of the
dynamics, and to share the figures with our companies and the process is getting longer.
stakeholders, we have decided to publish a Having a longer and complicated deal
mid-market M&A report. discussions and not forming a common
language can be a reason for deal brake.
The perception of “sold for losses” is gradually
being replaced by the concept of “good We would like to thank all our stakeholders and
investment opportunity” for target companies. SBB team for their support in putting the Mid
A partnership model can be implemented with Market report together.
various objectives such as accelerating the
growth, having the competitive advantage,
establishing a corporate governance structure Özge Germeyanoğlu
or being succored from a financial bottle neck, Managing Partner
etc. Although the owners still have the
motivation of “ Having the full ownership”, they Sunbelt Türkiye
tend to perceive M&A’s more positively as they SBB CAPITAL PARTNERS
see the benchmarks of successful M&A deals
in the marketplace, especially corroborated by www.sbbcapitalturkey.com
the second generation in management.
The market for large-scale deals is getting tight
and the growth opportunities are already
exploited. Hence PE’s changed direction
through mid market companies or new mid
2. The M&A market has been dominated by the
Mid Market segment in 2011 in terms of the
number of closed deals. Mid Market is still
popular despite the global and local political
and economical uncertainties. Turkey
managed to get rid of the effects of global
economic crises through new markets in North 46%
54%
Africa and its eastern neighbors. However in
2012, problems in these markets and
economical slow down measures of the
authorities have been negatively affecting the
future expectations and postponement of the Foreign Local
investment schedules. The effect is clear
looking at the number of closed deals.
However the credit rating upgrade in the Q4
and another upgrade expectation from a
different institute in the 2013 has pushed
Turkey up in the investment arena. 30%
98 mid-market deals were closed in 2012. The
report covers deals with USD 1-50 million
enterprise value. The average deal size is USD
12,4 million in this range. 70%
Mid market M&A’s are dominated by strategic
investors. 70% of the acquirers have strategic Strategic PE
motivation to buy the stakes. 56% of these
investments are originated from foreign
countries. Foreign companies targeting
minimum risk and faster deployment prefers an
acquisition to enter the Turkish market that still
has a growth potential with attractive
19%
consumption figures and niche markets with
low competition. Acquisition
40%
5% Majority
PE investments are low in the market. Though
SBB Capital Turkey expect this figure will be 50%
much higher in the coming years. 69% of PE’s
Minorty
invested in Turkish companies in 2012 have
local offices and a local team. A lot of new PE 36%
funds raised targeting SME market with higher
growth rates and unsaturated markets of SME
companies.
The other differentiating factor of SME M&A
Foreign investors have played the leading role
deals is the transferred stake ratio. 76% of the
in 2012 with 54% share in deal numbers. Most
acquirers have the full or majority stake in the
of the funds came through EU countries where
closed deals. 31 of the deals are 100% stake
Germany and UK have the upper hand. USA
sales among 98 deals of the year.
that has global leadership in M&A transactions
Having a sector based overview; , marketing is far below in mid market due to geographical
services, health, retail, financial services and remoteness and investment size. Middle East
internet based operations stand out in terms of is also not a dominant player in the mid market
deal number. deals mainly due to deal sizes. However it
worths to mention that Far East became an
www.sbbcapitalturkey.com SBB Capital Partners
3. active investor despite geographical proximity
and cultural differences in 2012.
Country Deal #
Germany 11
UK 6
Swiss 3
Italy 3
France 3
Singapore 3
USA 2
UAE 2
Japan 2
The Netherlands 1
Austria 1
Poland 1 For more information::
Russia 1
Kuwait 1
SBB Capital Partners
Hong Kong 1 Bayar Caddesi Değirmen Sok
Denmark 1 Derya Sitesi B2 D34
Kozyatağı İstanbul
Despite there has been a drastically increase www.sunbeltturkey.com
in the potential transaction projects, the deal
www.sbbcapitalpartners.com
closing ratio was quite low in 2012. We
sunbeltturkey@sunbeltnetwork.com
anticipate a better performance in the new year
with the support of upgraded credit ratio, low
revenue scheme of alternative investment tools T:+90 216 3625276
and the closure of ongoing deals from 2012. F:+90 216 3726634
More over in 2013 the investors will turn their
focus from mature Istanbul to unsaturated Waiver Notice
Anatolian companies. This Report has been prepared for information purposes
relating to M&A activities in SME sector. This Report does
not purport to be all-inclusive nor to contain all the
SBB Capital Türkiye, foresees that the mid information that a prospective investor may require in
market transactions which are far below the deciding whether or not to invest in SME sector. Each of
SBB Capital Turkey and its respective subsidiaries and
market growth potential in Turkey will boost up associated companies and its respective officers,
in midterm. Increasing number of employees and agents expressly disclaims any and all
liability which may be based on this Report or such
professionally managed SMEs, correct information, and any errors therein or omissions therefrom.
preparation and strategic business plans will
Transactions data presented in this report are based on
ease the process in favor of investors. On the information that is readily available in the public domain.
orher hand, as the investors get more involved SBB Capital has not conducted any research on the
accuracy of the given information. Therefore, SBB Capital
in the Turkish SME market, they got used to Turley does not accept any responsibility as to the
the sector dynamics and risk perception will accuracy or completeness of the data. This report does not
cover capital market transactions, IPOs, real estate sales,
lighten. PEs will lead the growth in the SME intra-group share transfers and transactions of financial
market transactions. Currently there is over 30 institutions within the framework of debt restructuring.
PEs targeting mid market companies in Recipients of this report are not to construe the contents of
Turkey. Not only the number of PEs but also this Report as legal, business, tax or other advice. Any
recipient or prospective investor should not rely upon this
the size of the funds and the invested Report in making any decision, investment or otherwise
companies will increase in the near future. and is recommended to perform their own investigation
and seek their own independent advice.
www.sbbcapitalturkey.com SBB Capital Partners
4. List of the Deals
# Target Sector Acquirer Country Profile Stake
1 4129 Marketing WPP UK Strategic Majority
Ak-Al Alaplı İplik
2 Textile Dinarsu Tekstil Turkey Strategic 100%
Tesisleri
3 Alartes Enerji Energy Gözde Girişim Turkey PE 51%
4 Altın Optik Health Carl Zeiss Vision Germany Strategic 100%
5 Anele Logistics Netlog Turkey Strategic 80%
6 Ansa Yatırım Financial services Individual Turkey Strategic 100%
7 Araklı Enerji Energy Ayen Enerji Turkey Strategic 76%
8 ArcedoMonk Socail Gaming 212 Capital Partners Turkey PE -
9 Ataman Kozmetik Cosmetic Eczacıbaşı Turkey Strategic 100%
10 Aydemir Elektrik Energy Utopya Turizm Turkey Strategic 99%
11 Balerin E-trade 212 Capital Partners Turkey PE -
12 Başak Traktör Automotive Sanko Holding Turkey Strategic 100%
13 Bavet İlaç Medical NBK Capital Kuwait PE 50%
14 Bellini Gıda Food Nissin Food Japan Strategic 50%
15 Butigo E-trade 212 Capital Partners Turkey PE -
16 Cem - Fa optik Health Carl Zeiss Vision Germany Strategic 100%
17 Cevher Döküm - Jant Automotive supply ADM Capital Hong Kong PE 46%
18 Cloud Arena Internet 212 Capital Partners Turkey PE -
19 Colordent Health Hospitadent Grubu Turkey Strategic 100%
20 Crispino Retail Gültekin Group Turkey Strategic 100%
21 Çınay Kimya Medical Angelini Group Italy Strategic 100%
22 Değer Menkul Değerler Financial services Saxo Bank Denmark Strategic 90%
23 Doğa Tarım Agriculture Egeli&Co. Turkey PE 90%
Oman Insurance ve
24 Dubai Grup Sigorta Financial services UAE Strategic 100%
Starr Insurance
25 Duranlar Tarım Agriculture Mega Polietilen Turkey Strategic 50%
26 Eko TV Media Doğan Grubu Turkey Strategic 25%
27 Ekomak Industrial Production Atlas Copco Swiss Strategic 100%
28 Elsys Software itelligence Germany Strategic 60%
29 Ersun Kimya Chemistry KOG Investments Singapore Strategic 100%
30 Etiler İnci Büfe Food Karsusan Turkey Strategic 67%
Euro Yatırım Menkul Gries & Heissel
31 Financial Services Germany Strategic 94%
Değerler Bankiers
www.sbbcapitalturkey.com SBB Capital Partners
5. 32 EuroMessage Marketing Doğuş Grubu Turkey Strategic 40%
Tiger Global
33 Evidea E-trade USA PE -
Management
34 Evmanya E-trade Doğan Online Turkey Strategic 100%
35 Exper Bilgisayar IT Penta Teknoloji Turkey Strategic 67%
36 Filmat Consumer Electronics Fuji Film Germany Strategic 100%
Universe Capital
37 Frigo Pak Food USA PE 29%
Partners
FU Gayrimenkul Yatırım
38 Financial services Pera Capital Turkey PE Majority
Danısmanlık A.Ş.
39 GAAT International Textile George at ASDA UK Strategic 100%
40 Gimsan Gediz İplik Textile Ataç İnşaat Turkey PE 27,78%
41 Go Mango Food D.ream Turkey Strategic -
42 Grow Fide Agriculture Unal Ailesi Turkey Strategic -
43 Gurme Servis Food D.ream Turkey Strategic -
44 Gümüşsuyu Halı Textile Modern Halı Turkey Strategic 100%
45 HAK Menkul Kıymetler Financial services PhillipCapital Singapore Strategic 100%
Antalya Güçbirliği
46 Hare Beverage Turkey Strategic 100%
Holding
47 Hazinem.com E-trade 212 Capital Partners Turkey PE -
48 Hemen Kiralık E-trade 212 Capital Partners Turkey PE -
49 HSK Air condition Systemair Swiss Strategic 70%
Galata Business
50 Inploid IT Turkey PE 30%
Angels
51 Interteks Fair Organization Fiero Milano Italy Strategic 60%
52 IQ Travel Tourism Meeting Point Germany Strategic 51%
Iron Mountain
53 Iron Mountain Arşivleme Services UK Strategic 35%
Holdings
Universe Capital
54 İdaş Bedding USA PE -
Partners
55 İdefix IT Doğan Online Turkey Strategic 100%
56 İpek Optik Optic Essilor International France Strategic 100%
57 İstanbul Doors Food D.ream Turkey Strategic 74%
58 Jinemed Health Acıbadem Sağlık Turkey Strategic 65%
Kaynak Finansal
59 Financial services Üs Holding Turkey Strategic 45%
Kiralama
60 KKT Logistics Netlog Turkey Strategic 100%
61 Lidyana.com E-trade Ru-Net Russia PE -
62 Life Medya Fuarcılık Fair Organization Tarsus Group UK Strategic 70%
63 Maçkolik.com Internet Perform UK Strategic 51%
64 Makine Takım Industrial Production Gözde Girişim Turkey PE 30%
65 Manajans Marketing WPP UK Strategic 100%
www.sbbcapitalturkey.com SBB Capital Partners
6. 66 Mataş Matbaacılık Printing services VBG Holding Turkey Strategic 47%
67 Maxtone Health Amplifon Italy Strategic 51%
68 Mikro Ödeme Internet Mediterra Turkey PE Majority
69 Mira Menkul Değerler Financial services Renaissance Capital Turkey PE 100%
70 Mobilike Internet Madvertise Germany Strategic -
71 Mobiliz IT Mediterra Turkey PE -
72 Multiyirmisekiz Real estate Altındağ Turkey Strategic 50%
Murat Un Sanayi -
73 "Buğday işleme Food Interflour Singapore Strategic 100%
varlıkları"
74 Mürekkep Matbaacılık Printing services Taraf Gazetesi Turkey Strategic 99%
VHV
75 Nart Sigorta Financial services Germany Strategic 40%
Vermogensanlage
76 Neredekal.com IT İlab ventures Turkey PE 27,50%
CWT Anadolu
77 Nova Gümrük Logistics Turkey Strategic 60%
Lojistik
78 Num Num Food İş Girişim Turkey PE 61,70%
79 Opak Optik Health Essilor International France Strategic 51%
80 Oracal PVC Orafol Germany Strategic 100%
81 Oxygen Consultancy HR advisory Allgeier SE Germany Strategic -
82 Perpa Koruma Services Trenkwalder Avustrai Strategic 20%
83 Ren Grup Diyaliz Health Fresenius Germany Strategic 100%
84 Rito Tohumculuk Agriculture Unal Ailesi Turkey Strategic -
85 Sekotek Elektronik Lock Asso Albay Swiss Strategic 100%
86 Sigma Danışmanlık Software ASEE Poland Strategic 98,68%
87 Silk & Cashmere Retail Eastgate UAE PE 45%
88 Sireo Real estate Turkuaz Turkey Strategic 100%
Tiger Global
89 Sporcum.com E-ticaret USA PE 68,31%
Management
90 Toksöz Spor Retail İş Girişim Turkey PE 51%
Tolina Tarım ve
91 Agriculture Egeli&Co. Turkey PE 43,57%
Hayvancılık
92 Transteknik Teknoloji Consumer Electronics Konica Milota Japan Strategic 100%
Universe Capital
93 Transtürk Logistics USA PE 75,40%
Partners
94 Turlog Lojisitik Logistics Borusan Lojistik Turkey Strategic 100%
Ultra Görüntüleme
95 Health Euromedic Nederlands Strategic 100%
Merkezi
Galata Business
96 Ustaeli.com E-trade Turkey PE -
Angels
97 Yeda Tora Optik Optic Essilor International France Strategic 70%
98 Zirve Gıda Agriculture Doruk Group Turkey Strategic 60%
www.sbbcapitalturkey.com SBB Capital Partners