Private markets investment manager Partners Group has acquired a 30% stake in Turkish natural gas firm Enerya from STFA Group.
STFA will continue to hold the remaining stake in Enerya, which will be operated on a joint-venture (JV) basis.
Enerya owns and operates nine natural gas distribution firms in several regions in western and central Turkey.
Each firm has concession rights for 30 years in their respective regions.
Enerya is estimated to handle a total volume of around 2.8 billion cubic metres of natural gas per year throughout its different business lines by the end of 2014.
Partners Group will work with the Enerya management team and STFA to further build the natural gas company’s platform.
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By GlobalDataThe company plans to expand geographically, partly via consolidation because of the fragmented nature of the gas distribution market in Turkey.
Enerya CEO Aslan Uzun said: "We are very pleased to attract this long-term and experienced partner to our growing energy platform.
"Energy and gas consumption per capita in Turkey are far below those in other developing countries, despite strong historical growth, so we see a real opportunity to expand Enerya’s business together."
Partners Group managing director in the private infrastructure team Brandon Prater said: "In STFA, we have found a great partner and we look forward to working with them to develop Enerya’s business across Turkey in the coming years.
"Together, we are in a great position to expand Enerya’s platform in a sector that we believe will deliver solid, stable growth."
