Bostik acquired 100% of Tekbau, a leading construction chemical company in Turkey.
Pragma provided buy-side investment banking and financial advisory services to Bostik for the initiation, negotiations and closing of the deal.
Bostik is one of the largest sealant and adhesive companies in the world with a turnover of €1.5 billion. Headquartered in France, Bostik is owned by Total, the 4th largest petroleum and gas company in the world.
Tekbau’s product portfolio consists of mainly dry mortar products including exterior and interior plasters, surface hardeners, self-leveling compounds, mortars, tile adhesives, joint sealers, grouts, repair mortars and thermal & water insulation products.
Prior to the transaction, Tekbau was a financial investment of Viem Yatırım and ANG Yatirim Holding, one of the founder shareholders of Tekfen Holding.