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.
• US$4.0m investment made in 10/2006 for 15.6863% of Beyaz Filo shares
• Untapped market: Turkish long-term fleet rental industry grows approximately 35% per annum
Pre-Investment
During exit
Growth
No. of Cars
5,520
9,988
80.9%
No. of Personnel
70
113
61.4%
No. of Share*
7.2%
9.3%
29.2%
* Based on public information
• Actions taken for improvement in efficiency and profitability
- Implementation of an Enterprise Resource Planning (ERP) system enabling Company to analyze costs and profits per car and per client
- Implemented an automated new contract pricing methodology for faster and more accurate pricing
- Opened 3 company-owned repair & maintenance shops to decrease costs and increase efficiency
• Establishment of corporate governance policies including
- Implementation of the Second Hand Sales Commitee with independent members
• Helped to increase credit limits from banks at more attractive terms
• Hiring a new and experienced CFO
İş PE made a successful exit to founding shareholders on 06/2008 with 58.66% IRR (Internal Rate of Return) on USD basis and 2.19x money multiple (Revenue generated from the sale of stocks divided by the amount of invesment)
