Pragma Capital Partners (PCP) successfully acquired a 60 percent stake in HMS, Türkiye's leading manufacturer of structural aerospace components. The transaction, executed through PCP's Industrials Buyout Fund III, involved over 70 institutional and private investors.
Founded by Türkiye's aerospace industry pioneer Aziz Meydan, HMS specializes in precision machining, surface treatments, and subassembly of critical aerostructural components for the commercial aviation market. Its clientele includes global aerospace giants such as Airbus, Boeing, and Bombardier. The company has experienced substantial growth through its partnership with the Atik Family, prominent industrial investors in Türkiye. Currently, HMS generates over 90 percent of its revenue from international markets and maintains an order backlog exceeding USD 200 million.
This investment marks PCP's 5th in 2024 and the 17th overall, further establishing PCP's status as a leading private equity firm with a focus on Türkiye. Managing assets exceeding USD 1 billion, PCP supports the growth and international ambitions of fast-growing, export-oriented companies across various sectors.
The acquisition underscores Türkiye's strategic role as a major production hub in the region while highlighting the trust international investors place in Turkish companies' ability to expand globally. It also represents a significant milestone for Türkiye's investor ecosystem, demonstrating the increasing participation of institutional and private investors in private equity investments. This is facilitated by the Venture Capital Investment Fund (GSYF) structure, which enables both institutional and individual investors to invest in successful privately held Turkish companies.
This private equity investment exemplifies the critical role such investments play in facilitating medium- to long-term capital inflows into Türkiye, helping Turkish companies realize their growth potential in international markets. Beyond fostering the global success of these companies, such transactions also expand the investor ecosystem and offer valuable opportunities for portfolio diversification.