Cimsa acquired a 94.7% majority stake in Mannok while the local management team retained a 5.3% minority interest to ensure continuity. The transaction provides an exit for the consortium of US hedge funds (led by Brigade Capital Management) that had owned the business since its receivership in 2014. Cimsa intends to use Mannok as its "growth hub" for the UK and Irish markets, leveraging Sabancı's financial power to accelerate Mannok's decarbonization and sustainability initiatives.

MANNOK, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN discount to the 10.2x average currently observed in the Industry & Manufacturing sector.

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