Ginger acquires Tunisian Geotechnical leader Hydrosol Fondations
November 9th 2020, Ginger Group, French leader in prescription engineering, announces the acquisition of Hydrosol Fondations, the Tunisian number one in geotechnical and foundation engineering, in which it owned already 30% of the shares.
The company Tuninvest Sicar (Africinvest Group) sells its shares after being a long term and committed shareholder during the development of the company.
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.
“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”, 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.
“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”, Aziz Mebarek, Africinvest Co-founder.
Tunis based Hydrosol Fondations is also present in Algeria (Algiers) with its subsidiary Sol & Fondations and in Côte d’Ivoire (Abidjan) 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.