Tuninvest Sicar, a multi-sector fund managed by Africinvest Group, has sold its 30% stake in Hydrosol Fondations, a Tunisian geotechnical and foundation engineering company, to Ginger Group.

“I am happy that our exit allows 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”, said Aziz Mebarek, Africinvest Co-founder.

The business of Hydrosol Fondations, established 30 years ago, is focused on geotechnical investigations, special foundation engineering and on 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.

Hydrosol Fondations team participates in a large and diversified range of construction projects, from office and housing to big infrastructure equipments like ports, dams or bridges.

Hydrosol Fondations is also present in Algeria (Algiers) with its subsidiary Sol & Fondations and in Côte d'Ivoire (Abidjan) with its subsidiary Hydrosol Afrique.

“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’m delighted to the progress made by Hydrosol Fondations. Integration into the Ginger group offers new international prospects and new activities on the Tunisian market”, Slaheddine Haffoudhi, Hydrosol Fondations Chairman and CEO.

Ginger is the French prescription engineering company.

The Group, specialized in soil, water, material and environmental engineering, secures projects and structures, optimizes their sustainability and incorporates them into their environmental setting.

Already established in Algeria and Morocco, Ginger is consolidating its presence in French-speaking Africa and is pursuing its development strategy.