British private equity acquires Turkish security firm Pronet

Sabah - London-based private equity firm Cinven has acquired the majority stakes of Turkish security solutions provider Pronet.

The parties have reached a deal to take over the majority shares of Pronet from stakeholders including the Turkish Private Equity Fund and Dutch Development Bank FMO, according to a statement by Cinven without disclosing financial details.

The acquisition is expected to be completed this summer depending upon approval by the relevant authorities.