As of 8:00 a.m. EDT / 3:00 p.m. Türkiye time on September 10, 2026. This brief reviews developments from September 9 through September 10.

Aquila Capital, a Hamburg-based alternative investment manager with a focus on sustainable infrastructure and growth equity, signed a definitive agreement on September 9 to acquire a controlling stake in Enocta, Türkiye's largest corporate e-learning and digital skills platform. The transaction values Enocta at approximately €85 million. Enocta serves over 500 corporate clients across Türkiye, the Middle East, and Central Asia with learning management systems, content libraries, and AI-driven skills assessment tools.

The acquisition represents a European growth equity investor taking a controlling position in a Turkish technology platform with regional expansion ambitions. Key legal considerations include the structure of the controlling stake — whether Aquila acquires a majority or a supermajority — and the governance rights retained by the founding shareholders. Turkish corporate law provides minority shareholders with certain statutory protections, including rights to request information, challenge related-party transactions, and seek judicial dissolution in cases of oppression, which must be balanced against Aquila's need for operational control.

The cross-border data dimension is significant: Enocta's learning management system processes employee performance data, skills assessments, and training records for Turkish and regional corporate clients. KVKK compliance, data localization obligations, and the treatment of employee data under Turkish labor law must be addressed in the transaction documents and post-closing data governance framework.

Altaris Capital Partners completed its acquisition of Clarivate's life sciences and healthcare business unit on September 9. The transaction, valued at approximately $950 million, separates Clarivate's pharmaceutical intelligence, clinical trial data, and regulatory affairs databases from its broader intellectual property and academic research businesses.

The acquired business includes Cortellis drug intelligence, Integrity pharmaceutical databases, and regulatory intelligence tools used by pharmaceutical companies, biotech firms, and regulatory consultants globally. Post-closing, the business will operate as a standalone platform under Altaris's ownership, with Clarivate retaining its IP and academic research segments.

Wynnchurch Capital completed its acquisition of Luxfer Holdings, a UK-listed manufacturer of high-performance materials including specialty gas cylinders, zirconium chemicals, and magnesium alloys, on September 9. The transaction, valued at approximately $380 million, takes Luxfer private from the New York Stock Exchange.

Luxfer's products serve defense, aerospace, medical, and industrial markets. The take-private removes the costs and constraints of dual-listed public company status while giving Wynnchurch flexibility to invest in manufacturing capacity and product development. Post-closing priorities include integration of Luxfer's U.S. and UK manufacturing operations, review of government and defense contracts for change-of-control provisions, and assessment of export control obligations under both U.S. EAR and UK export licensing regimes.

The Aquila–Enocta transaction is a notable European-led acquisition of a Turkish technology platform with cross-border data and governance considerations. The Altaris–Clarivate and Wynnchurch–Luxfer transactions reflect continued private equity interest in carve-outs and take-privates of specialized industrial and data businesses.

This publication is for general informational purposes only and does not constitute legal advice.