Swicorp links deal with contemporary carpet manufacturer in Turkey

Swicorp, a financial advisory and private equity firm in the MENA region, has acquired a stake in Step, the leading contemporary carpet manufacturer and retailer in Turkey.

Swicorp, a financial advisory and private equity firm in the MENA region, has acquired a stake in Step, the leading contemporary carpet manufacturer and retailer in Turkey.

Having redefined the carpet business - one of the most traditional businesses in Turkey, Step operates over 80 points of sale, exports to 35 countries world wide and has embarked on an ambitious international growth strategy aimed at positioning the company as a global player in the contemporary carpet market.

"We have been watching the development and exemplary working model of the Step Company for some time. Since this will be our first investment in Turkey, we believe in the growing economy, production and export potential of Turkey and the future of Swicorp through its partnership with Step," said Nabil Triki, managing director of Swicorp Private Equity.

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