AfricInvest exits engineering company

Private equity firm AfricInvest has sold its shares in Hydrosol Fondations, a Tunisian geotechnical and foundation engineering company, to Ginger Group, a French leader in prescription engineering. Ginger Group already owned 30% of the shares in Hydrosol Fondations.

Established 30 years ago, Hydrosol Fondations is focused on geotechnical investigations, special foundation engineering and soil reinforcement work. Drawing on the experience of its 180 employees, the company successfully positioned itself in the Tunisian market as a benchmark in its line of business.

“We know the great skills and reputation of Hydrosol Fondations. Our fruitful collaboration on African projects has enabled this complete association within the Ginger group,” said Philippe Margarit, Ginger Group CEO.

“I am happy that our exit allows us to conclude this partnership between two reference groups in their respective domains and markets, culturally very close and perfectly complementary. It opens up prospects for growth and value creation in the next years,” commented Aziz Mebarek, AfricInvest co-founder.

Tunis-based Hydrosol Fondations is also present in Algeria with its subsidiary Sol & Fondations and in Côte d’Ivoire with its subsidiary Hydrosol Afrique. Ginger, already established in Algeria and Morocco, is consolidating its presence in French-speaking Africa and is pursuing its development strategy.

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