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CEO of the Month – UK

DOTY201501

Company: NGIM Holding Name: CEO Can Nuhoğlu Email: info@oc3.ag info@ngim.com Web Address: www.ngim.com www.oc3.ag

Germany Energy & Resources Deal of the Year for the NGIM Holding Acquisition of Solarion AG Transaction Established in 1982, NGIM Holding is an Istanbul based company offering solutions in the areas of construction, chemistry, technology and energy. The company’s CEO Can Nuhoğlu reveals more about the company and the acquisition of Solarion AG. With over 500 employees and a yearly turnover of 85M USD these are exciting times for the company. Our aim is to become a responsible solution partner and an integrated systems provider with an understanding of contemporary quality and environmental consciousness. In terms of the holding companies we invest, in the construction industry we have been working with Nuhpanel, a flagship company of the holding and a manufacturer of sandwich panels for industrial buildings. Multiplan, Europe’s 3rd biggest manufacturer of waterproof membranes (TPO and PVC) is another stand out investment of ours in the construction industry. In the Chemistry industry our main investment is Nuhpol, a producer of base polyester and polyether polyol for rigid and semi flexible polyurethane. In the Technology sector we have two outstanding companies; Grafentek and Smarte who specialise in Nano coating applications such as long lasting lightweight batteries and machine to person communication respectively. Lastly for the Energy sector, we have established OC3 AG, a manufacturer of high tech, industrial rooftop solar panels and flexible CiGS solar cells for cutting edge projects, based in Germany. Although the Arts and Lifestyle sector isn’t typically considered to be our core market, we have two important institutions; Gaia, a contemporary art gallery in the cultural heart of Istanbul and Atom, a designer and manufacturer of luxury yachts. In the Energy sector, solar companies have faced a serious financial crisis in recent years. The price pressure of Chinese competitors, deregulation in

many developed countries and market saturation has led to many companies filing for bankruptcy. However like many crisis, there is always an opportunity. This sector always needs innovative ideas and new ways to integrate green energy to people’s everyday lives. So entrepreneurs and companies who had such ideas and enough capital now have access to many facilities with more than enough machine parks and know how. On the other side, the running costs of these facilities are often quite high since they run on high technology. Therefore the trick is having a portfolio of innovative and marketable products that can be mass manufactured in these facilities. Scaling and versatility is a must have checkpoint for M&As in Energy sector. In regards to the deal itself, Solarion AG was one of the biggest manufacturers of CIGS flexible solar cells. However with the cell efficiency developments in Crystalline Silicon cell technology, CIGS cells became financially obscure. Bounded by several promises given to state and investors, Solarion AG was unable to catch up with market conditions and fallen into an inevitable insolvency. According to German insolvency rules, an Insolvency agency has taken over the company and their task was either selling the assets of the company as a whole package or setting up an auction for partial sales. At this stage, sales manager of former Solarion AG has contacted us knowing that our Holding had ongoing R&D activities for a new solar module design and he asked us if we are interested in an acquisition.

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AI Magazine May 2016  
AI Magazine May 2016