Gimv divests the largest part of its minority stake in Tinubu Square, a provider of credit risk solutions, to the French sovereign wealth fund, Fonds Stratégique d’Investissements (FSI). The remaining stake is part of an arrangement between Gimv and the management of Tinubu Square allowing both parties to sell / purchase their stake within the coming 30 months.
Tinubu Square (www.tinubu.com), launched in 2000, provides financial institutions and large corporate clients with scalable and easy-to-implement credit risk solutions. The company has a market leading position in France and a growing presence outside of their domestic market. Amongst their clients there are blue chip companies such as CESCE, Coface, Credit Agricole, RBS, etc. Since the entrance of Gimv as a shareholder in 2002, Tinubu Square grew from a startup into a company with revenues of more than EUR 13 million in 2011 (e) with offices in France, the UK and Singapore.
Jérôme Pezé, CEO of Tinubu Square, looks back with satisfaction on the realisations with Gimv as a partner: “Beyond the quality of the relationship built since 2002, Gimv has provided a valuable support for Tinubu Square and enabled it to expand technologically. This has been a determining factor in the development of its activities, especially abroad.”
The sale of Tinubu Square has no material impact on the last published equity position of Gimv on 30 June 2011. Over the entire course of the investment, this represents a return that is positive, though slightly below Gimv’s long term average. No further financial details will be published about this transaction. We invite you to read more in the Tinubu Square press release which is attached.