MAT designs and manufactures water filtration, water treatment, ozone, and UV disinfection equipment for recirculating aquaculture systems (RAS), aquarium life support systems (LSS), industrial water treatment facilities as well as zoological and recreational applications, making it the only global manufacturer producing all equipment required for RAS and LSS. The Company generates 100% of its revenue from international markets, employing over 300 people across subsidiaries in Norway, USA, UAE, Qatar, and Mexico.

Pragma Capital Partners (PCP) is the leading private equity firm investing across buyout and growth equity strategies in fast-growing and export-oriented companies in Türkiye. PCP has invested in 17 companies and currently manages an AUM over US$1 billion.

PCP acquired a joint-control stake in MAT.

BEST is the largest power and distribution transformer manufacturer in Türkiye with a turnover of €500 million in 2024. With more than 1,500 employees, BEST exports approximately 70% of its production to 85 countries. In addition, it is a leading player in Middle East & Northern Africa, CIS Region and Europe.

Industrial Development Bank of Türkiye (“TSKB”) supplied €25 million long-term debt financing for its investment in a new transformer test laboratory and a medium-term working capital facility.

Kimteks is a leading Turkish chemical distributor with a special focus on sourcing, marketing and selling chemicals that mainly cater to plastics & PU, liquid & powder coating, and rubber & adhesive markets.

Renkim specializes in providing agency services to international chemical companies in the Turkish market since its establishment in 1987.

Ravago is one of the world’s leading groups specialized in manufacturing, recycling, distribution and sales of polymers, chemicals & life ingredients, and building materials. Ravago currently operates more than 45 manufacturing facilities and 325 locations across 65+ countries with its 9,000 employees.

Ravago acquired 100% of Kimteks and Renkim.