İş Private Equity, the only PE fund that completed seven exits in the last five years in Turkey as of 2010, delivered superior returns to its shareholders.
• A total of US$ 11.5 mio investment made in four tranches between 07/2003 and 07/2005.
• Inorganic growth through largest acquisition in Turkish movie theater chain industry: Acquisition of Tepe Cinemaxx in 07/2005.
• Addition of 4 locations, 25 screens and 4,500 seats; increasing total number of locations to 10, screens to 61 and seats to 9,400.
• Exceptional post investment performance: An unprecedented growth story in its sector.
• Revenues increased over eightfold in three years.
Pre-Investment
During exit
Growth
No. of Locations
3
14
367%
No. of Screens
16
86
438%
No. of Seats
1.700
17.800
947%
No. of Personnel
75
412
449%
Market Share (Audience)
1,5%
10,8%
620%
• İş PE endorsement helped secure favourable rental contracts.
• Hiring CFO.
• Enhancing financial reporting process in terms of speed and credibility.
• Identify acquisition target.
• At the time of İş Private Equity ’s exit, 9 new locations were already secured, which were planned to be opened in 2007-2008 period, that will add 76 screens and 14,397 seats to capacity.
Cinemars became the second largest and one of the most profitable players in Turkish movie theater chain industry within 3 year period of partnership with İş Private Equity .
İş Private Equity made a successful exit to founding shareholders/ foreign PE fund in August 2006 with an USD based IRR of 30.25%
