As of 8:00 a.m. EDT / 3:00 p.m. Türkiye time on September 25, 2026. This brief reviews developments from September 24 through September 25.

The third quarter of 2026 produced 14 cross-border transactions with a direct Turkish-U.S. nexus tracked by ULF, compared to 9 in Q3 2025 — a 56% increase year-over-year. The transactions spanned technology, consumer goods, industrial manufacturing, defense, and financial services.

Turkish outbound (Turkish buyer, U.S. target or U.S. market entry): 8 transactions, including Point72–HubX (fintech), Tera Robotik–U.S. robotics software (industrial automation), Alarko Carrier–U.S. HVAC distribution (industrial services), Aquila Capital–Enocta (edtech, European-led but Turkish target), Ford Otosan–U.S. EV component supply agreement (automotive), Turkish defense aerospace JV (defense manufacturing), Turkish textile brand licensing (consumer goods), and Yıldız Holding U.S. snack exploration (consumer goods, no definitive agreement).

U.S. inbound (U.S. buyer, Turkish target): 3 transactions, including Vitabiotics–Prisum Healthcare (consumer health), and two undisclosed transactions in the technology and logistics sectors.

Bilateral trade and regulatory: 3 significant developments, including the Section 301 investigation, AFIDA enforcement update, and Commerce antidumping on Turkish rebar.

The Q3 2026 data reflects a structural shift in Turkish-U.S. M&A: Turkish companies are increasingly pursuing U.S. market entry through acquisition rather than organic growth, and the transactions are becoming more sophisticated in terms of structure, size, and sector diversity.

Milestone Environmental Services, a Texas-based environmental services company, completed its acquisition of a regional hazardous waste treatment and disposal company in the Gulf Coast market on September 24. The target operates permitted hazardous waste treatment, storage, and disposal facilities in Louisiana and Texas. The transaction value was approximately $165 million.

The acquisition expands Milestone's Gulf Coast environmental services footprint and adds permitted TSDF capacity that is difficult and time-consuming to replicate through greenfield development. Post-closing integration should address the transfer of environmental permits, the treatment of existing waste disposal contracts, and the management of legacy environmental liabilities at the acquired facilities.

The Q3 2026 review confirms a structural acceleration in Turkish-U.S. cross-border M&A activity, with Turkish outbound transactions outnumbering U.S. inbound transactions for the first time in the tracked dataset. The diversity of sectors — from fintech to defense to consumer goods — reflects the broadening ambitions of Turkish companies in the U.S. market.

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