Mount Group closed a deal to purchase a material stake in Turkish fuel distribution business Alpet this week, partnering with Alpet stakeholder, Zeren Group.
Founded in 2001, Alpet is one of the leading brands in Turkey’s fuel distribution sector, and one of the top five companies in the country for fuel storage capacity, with storage of 227,014 m3 across six facilities.
Mount Group achieved a number of successful exits from its investments in the third and fourth quarters of 2024, enabling it to allocate resources to deals that lie outside its primary strategic and territorial focuses. While its main focuses are Property, FinTech and Wellness industries operating globally, it is also able to take advantage of appropriate opportunities in emerging markets as they arise.
The investment in Alpet represents an opportunity to further diversify the Mount Group portfolio, take advantage of an attractive valuation, and to open up new implementations for its portfolio of investee tech businesses’ products. In the case of Alpet, Mount Group intends to test implementation of a new smart payment system developed by one of its tech holdings, Nono Network.
Mount Group’s involvement will enable Alpet to grow more rapidly and in a more sustainable way, improve its business process, and to optimise its usage of resources – a crucial factor for Alpet to increase its capitalisation.
“Despite the challenges Turkey has faced with variable economic conditions, we believe in the mid-term and long-term potential of the Turkish economy.” – Anar Murtuzayev, CEO & UBO, Mount Group
A new phase of growth for Alpet
Alpet’s growth entered a new phase following its acquisition in 2023 by Zeren Group Holding A.Ş, which acquired Alpet, Alpet Lubricants and Ecogaz. Since the acquisition, Alpet has seen the addition of 100+ new petrol stations and a suite of new tech solutions and automation, but required the financial support of investors like Mount Group to continue its ongoing growth. Its current objective is to further increase its petrol station provision from circa 350 to around 500.
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