London, UK. On June 6th, Betafence, global leader of industrial mesh production and fencing products, a part of the PRÆSIDIAD group, announced the acquisition of the remaining 40% of Betafence Yapı Sanayi ve Ticaret A.Ş. in Turkey.
Betafence has been a majority shareholder in the business since 2007, building a strong relationship with the company’s founders. This acquisition is a new and exciting phase for Betafence and the PRÆSIDIAD group, and the team look forward to driving further growth and building upon the existing footprint of the business in Turkey.
A new Managing Director and Financial Director have been appointed to spearhead this new phase of development. The founders Deniz and Ates Ucuncu will also remain involved with the business for a period to support a smooth transition. No further restructuring is anticipated, and, with additional support from other Betafence companies, the transition for employees and customers of Betafence Yapı Sanayi ve Ticaret A.Ş. will be seamless.
Andrea Bori, Vice President Betafence said: “We will build on an already strong standing and successful business and we are excited to increase our investment and commitment in this highly competitive space and to unlock further undeveloped potential in Betafence Yapı Sanayi ve Ticaret A.Ş. both within Turkey and in neighbouring countries.”