As of 8:00 a.m. EDT / 3:00 p.m. Türkiye time on September 15, 2026. This brief reviews developments from September 14 through September 15.

The transfer of control of Kartonsan Karton Sanayi ve Ticaret A.Ş., a publicly listed Turkish packaging and industrial board manufacturer, to Koç Holding-affiliated entities completed on September 13 following Capital Markets Board of Türkiye (SPK) approval. The transaction involved the acquisition of a 51.2% controlling stake from the founding Sabancı family shareholders. A mandatory tender offer for the remaining public float was launched simultaneously.

The Kartonsan transaction is a domestic Turkish control transfer with significant capital markets law implications. Under Turkish capital markets regulations, the acquisition of a controlling stake in a listed company triggers a mandatory tender offer obligation for the remaining shares at a price no lower than the acquisition price. The SPK's approval of the transaction and the mandatory offer price are subject to regulatory review, and minority shareholders have the right to tender their shares at the offer price.

For international investors holding Kartonsan shares, the mandatory tender offer provides an exit opportunity at the offer price. The treatment of shares tendered versus shares retained after the offer closes — including any squeeze-out rights available to the new controlling shareholder — depends on the final ownership percentage achieved in the offer and applicable Turkish corporate law provisions.

Versant Partners, a San Francisco-based growth equity firm, completed its acquisition of Full Swing Golf, a manufacturer of golf simulators and indoor golf technology, on September 14. Full Swing's products are used in professional training facilities, commercial entertainment venues, and residential installations globally.

The acquisition reflects continued investor interest in the intersection of sports technology and experiential entertainment. Full Swing's customer base includes PGA Tour players and major golf brands, providing both brand validation and a premium market positioning. Post-closing integration should address the company's manufacturing supply chain, software licensing model, and international distribution agreements.

Verisk Analytics completed its acquisition of AccuLynx, a roofing contractor management software platform, on September 14. AccuLynx provides project management, estimating, and customer relationship management tools specifically designed for residential and commercial roofing contractors.

The acquisition strengthens Verisk's property insurance data and analytics ecosystem by adding contractor workflow data to its existing claims and property intelligence capabilities. Post-closing integration should address the treatment of AccuLynx's contractor customer data under applicable privacy regulations and the competitive dynamics between AccuLynx and Verisk's existing contractor-facing products.

The Kartonsan control transfer is a significant domestic Turkish M&A event with mandatory tender offer implications for public shareholders. The Versant–Full Swing and Verisk–AccuLynx transactions reflect continued strategic and financial investor activity in sports technology and property insurance analytics respectively.

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