Who We Are
Work Experince
Zora Advisory, Founding Partner (2020-Present)
Pragma, Managing Director (2015-2020)
Ünlü & Co., Founding Partner & Co-Head of Corporate Finance (1996-2015)
Yatırım Bank, Associate (1994-1996)
Education
Carnegie Mellon University, MBA (1994)
Boğaziçi University, B.S. in Electrical & Electronics Engineering (1992)
Güray Zora is an extensively experienced investment banker and the founder of Zora Advisory, specializing in cross-border mergers and acquisitions. With almost three decades of experience in the field, he has led a diverse range of M&A projects, including minority, majority, 50-50, and 100% stakes, with strategic and financial players. To date, more than 75% of the transactions he advised were cross-border. Total value of completed transactions Güray led has reached over USD 4.1 billion
Güray has been instrumental in completing landmark M&A transactions, such as:
⦁ Yıldız Holding’s acquisition of Godiva (US) with a valuation of USD 850 million (largest international acquisition by a Turkish company at that time)
⦁ Arçelik’s acquisition of Defy, South Africa’s leading home appliances company, with a valuation of USD 320 million
⦁ Aksa’s formation of a joint venture in the carbon fiber industry with Dow Chemicals (US), with a valuation of USD 275 million
⦁ Cadbury Schweppes’ (UK) acquisitions of Kent Gıda and Intergum, Turkey’s leading confectionery and chewing gum companies, with valuations of USD 150 million and USD 450 million, respectively
His portfolio includes reputable Turkish strategic and financial groups like Koç/Arçelik, Yıldız Holding (Ülker), Borusan, Akkök (Aksa), Turkven, Turkcell, as well as international ones like Time Warner, Bain Capital, Unilever, GlaxoSmithKline, Nestle, Bunge, One Equity Partners, Savola, Wavin, NYSE Euronext, SK Telecom, Glaverbel, Texaco, and Tractebel
Güray has also started mentoring and advising technology start-ups since he established Zora Advisory in 2020
What We Do
Zora Advisory provides financial
advisory services primarily on
mergers and acquisitions, IPOs
and fundraisings
M&A Advisory
Cross border M&A
Buyside advisory
Sellside advisory
Mergers and spin-offs
Joint ventures and strategic alliances
IPO Advisory
Support throughout the IPO process
Coordination with other advisors and brokerage firms
Fundraising
Growth financing for start-ups
Seed and Series A-B fundings
Transactions
Established in 2004, Tunay Gıda is a leading manufacturer of organic fruit puree, juice, and concentrate in Turkey
Tunay Gıda exports almost all of its production to major food industry players in Europe, North America, and Asia
Gat Foods is a global supplier of technology-based fruit solutions, providing advanced bases, compounds, and raw materials for global beverage and cereal industries. Gat Foods is a subsidiary of Central Bottling Company
Zora Advisory acted as the exclusive financial advisor to Tunay Gıda and its shareholders
Bestcloudfor.me is Turkey’s first and only Amazon Web Services (AWS) premier partner and a leading provider of comprehensive cloud services
Eclit is a leading managed IT services provider with the largest cloud infrastructure in Turkey. Eclit is a portfolio company of Turkven, a leading PE firm in the country
Zora Advisory acted as the financial advisor to the exiting shareholder of Bestcloudfor.me
Fazla is specialized in technology-based holistic solutions for waste reduction and value creation from surplus. Fazla raised USD 6 million with a valuation of USD 43 million in a post-Series A investment round
Leading investors were Esor Investment and 212, along with previous investors Atlantic Food Labs and Techstars
With the new funding, Fazla is ready to expand its operations into European countries. After a comprehensive evaluation, Spain has been chosen as the first target country
Zora Advisory acted as the financial advisor to the founders of Fazla
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Fazla is specialized in technology-based holistic solutions for waste reduction and value creation from surplus. Fazla raised USD 6 million with a valuation of USD 43 million in a post-Series A investment round
Leading investors were Esor Investment and 212, along with previous investors Atlantic Food Labs and Techstars
With the new funding, Fazla is ready to expand its operations into European countries. After a comprehensive evaluation, Spain has been chosen as the first target country
Zora Advisory acted as the financial advisor to the founders of Fazla
Established in 2019, Comed Therapeutics is a biotech R&D start-up focused on critical and rare diseases
The company received Seed funding in the form of grants and soft loans from Malta Enterprise. Comed Therapeutics’ headquarters and laboratories were relocated to Malta
Zora Advisory acted as the financial advisor to the founders of Comed Therapeutics
Thread in Motion (TIM) is a fast-growing Turkish technology company operating in the B2B enterprise smart wearable sector. TIM offers smart wearable products that enhance worker capabilities and provide end-to-end traceability in operations
TIM successfully completed its Series A funding round at a pre-money valuation of approximately USD 30 million. The round was led by Esor Investments Holding GmbH and Technology Investment B.V.
Zora Advisory acted as the financial advisor to the shareholders of TIM
Selected Past Credentials of the Founder
Provided buy-side advisory services to Yıldız Holding (Ülker) for its acquisition of Godiva (US) with a valuation of USD 850 million, marking the largest international acquisition by a Turkish company at that time
Provided buy-side advisory services to Arçelik (a subsidiary of Koç Holding) for its acquisition of Defy, South Africa's leading home appliances company, with a valuation of USD 320 million
Provided sell-side advisory services to Akkök Group and its subsidiary Aksa for the formation of a joint venture in the carbon fiber industry with Dow Chemicals (US), with a valuation of USD 275 million
Provided buy-side advisory services to Cadbury Schweppes (UK) for its acquisition of Kent Gıda and Birlik Gıda, Turkey's leading confectionery producer, with a valuation of USD 150 million
Provided buy-side advisory services to Cadbury Schweppes (UK) for its acquisition of Intergum, Turkey's leading chewing gum producer, with a valuation of USD 450 million
Provided sell-side advisory services to Yıldız Holding for its sale of 30% equity stake in Türkiye Finans Katılım Bankası to National Commercial Bank of Saudi Arabia, with a valuation of over USD 500 million
Provided buy-side advisory services to Providence Equity Partners (US) for its acquisition of shares in Digiturk, the leading pay TV operator in Turkey
Provided sell-side advisory services to Unilever (UK) for its sale of Turkey's leading edible oil business (Yudum and Sırma) to Soros Investment Capital (US)
Provided financial advisory services for the secondary public offering of Ülker Bisküvi, Turkey's leading biscuits producer, valued at USD 500 million
Provided buy-side advisory services to Bunge (US) for its acquisition of Ana Gıda (Komili), Turkey's number 1 olive oil brand
Provided buy-side advisory services to Wavin (the Netherlands) for its acquisition of Pilsa, a leading PVC pipe producer in Turkey, with a valuation of USD 82 million
Provided buy-side advisory services to Borusan Lojistik, a leading Turkish logistics group, for its acquisition of Balnak
Provided buy-side advisory services to Yıldız Holding for its acquisition of Akmaya, a yeast production company, with a valuation of USD 94 million
Provided sell-side advisory services to Ülker Golf, the second-largest ice cream brand in Turkey, for its partnership with Turkven, a leading Turkey based PE
Provided financial advisory services for the IPO of Bizim Toplu Tüketim, the second-largest cash and carry operation in Turkey, valued at USD 250 million
Provided sell-side advisory services to Yıldız Holding for its formation of a joint venture with Eckes Granini (Germany) in the fruit juice market
Provided sell-side advisory services to Uno, Turkey's number one packaged bread brand, for its partnership with Ülker Group, with a valuation of USD 37.5 million
Provided sell-side advisory services to Mavi Jeans, a leading Turkish apparel retailer, for its sale to Turkven
Provided buy-side advisory services to Turkcell, the leading mobile phone operator in Turkey, for its acquisition of A-Tel, a leading local SIM card and mobile phone distributor, with a valuation of USD 150 million
Provided sell-side advisory services to Standard Profil, a leading automotive parts company in Turkey, for its sale to Bancroft, a Central European private equity firm
Provided buy-side advisory services to Karaca for its acquisition of Weimar, an iconic German porcelain brand
Provided sell-side advisory services to Taymed, the leading sub-contract marketing services provider in the Turkish pharma industry, for its sale to a Netherlands based investor group
Provided sell-side advisory services to Orim Cam, a leading Turkish manufacturer of high-tech materials based on specialty glass, for its sale to Schott Group (Germany)
Provided sell-side advisory services to Cargotech, a Turkish logistics company, for its sale to Koç-TNT joint venture
Provided sell-side advisory services to SFC, a Turkish wood-based panel producer, for its sale to Kronospan (Austria)
Provided sell-side advisory services to Comnet, a leading Turkish corporate internet service provider, for its sale to Borusan Group