ITC has been acquired by Re-Pie Portfoy Yonetimi

September 2026 — ITC, Türkiye’s leading integrated waste management and waste-to-energy platform, has been acquired by Re-Pie Portföy Yönetimi AS, one of Türkiye’s leading alternative asset management firms. The transaction provides Re-Pie with a scaled platform at the intersection of waste management, renewable energy and environmental services, while supporting ITC in the next stage of its development and long-term growth.

ITC operates a diversified waste management infrastructure platform across Türkiye, providing integrated solid waste management, waste treatment, landfill rehabilitation, recycling, refuse-derived fuel (RDF) production, biomethanol production and energy generation from waste. The company operates 14 facilities across 11 cities and participates in multiple stages of the waste management value chain. In 2025, ITC generated audited revenue of US$130.31 million and EBITDA of US$18.19 million. Its customer base includes electricity distribution companies, municipalities, industrial companies and other public and private sector organizations. Through its broad operational footprint and integrated business model, ITC combines waste treatment and resource recovery capabilities with renewable energy generation and other value-added environmental services.

Re-Pie is a Türkiye-based alternative asset management firm managing investment funds across private equity, venture capital, real estate and other alternative asset classes. The acquisition of ITC provides Re-Pie with exposure to a large-scale environmental infrastructure platform operating in sectors supported by increasing waste volumes, regulatory development, resource recovery requirements and the growing importance of renewable energy and circular economy solutions.

Our role in the transaction

Oaklins’ team in Türkiye acted as the exclusive sell-side advisor to ITC’s shareholders. Over the course of the engagement, the team developed a deep, proprietary perspective on Türkiye’s waste management and waste-to-energy sectors, examining their structural, regulatory, operational and economic dynamics, expected evolution and opportunities for further value creation. These insights informed the development and refinement of ITC’s equity story, highlighting the strategic significance of its integrated platform, nationwide infrastructure and role within Türkiye’s circular economy. The team undertook extensive financial analysis, identified the principal operational and financial value drivers underpinning the business and supported the preparation and presentation of financial information. Oaklins also developed the core commercial and valuation arguments used throughout the process and advised the shareholders through due diligence, negotiations and transaction structuring. Through hands-on execution, the team successfully guided a complex transaction spanning multiple business lines, technologies and geographies to completion.