Cinven To Buy Majority Stake In Turkish Security Systems Company Pronet

Turkish security systems company Pronet is expected to sell a majority stake to PE firm Cinven. The company has given a mandate to Goldman Sachs to carry out the sale of the majority stake. Pronet installs domestic and office security alarm systems as well as closed circuit camera systems, and currently has over 100,000 users in Turkey. The transaction comes at a time when Pronet reaches their objective of becoming Turkey’s leading security company, which was the aim of the company when it was founded in 1995. Pronet currently boasts 2,000 employees and provides a variety of other services, including manned security for several hundred customers and more than 1,000 security projects and consultancy services for several prestigious projects in Turkey. They have also installed more than 80,000 security systems around the country that are currently active. The transaction will put Cinven in a key position as a majority stakeholder in a market-leading company with a robust client base.