Global private equity firm Advent International has announced the acquisition of Tinsa, a Spanish property valuation firm, from its founding partners. Advent International has taken a 94.5% majority stake in the business, with the remaining capital held mainly by the management team. The transaction is valued at EUR 100 mln and has been approved by the Bank of Spain.
Global private equity firm Advent International has announced the acquisition of Tinsa, a Spanish property valuation firm, from its founding partners. Advent International has taken a 94.5% majority stake in the business, with the remaining capital held mainly by the management team. The transaction is valued at EUR 100 mln and has been approved by the Bank of Spain.
Founded in 1985, Tinsa specialises in property valuation, analysis and real estate advisory services. Since its inception, the company has consolidated its market position in terms of geographical scope, volume of assets appraised and specialisation. In 2010, the company expects to book turnover of EUR 80 mln and carry out over 240,000 valuation reports, representing a total valuation volume of more than EUR 160 bn. Until now, its shareholders consisted of 35 Spanish savings banks along with the Spanish Confederation of Savings Banks (CECA).
Advent International's strategy for Tinsa will focus on increasing its domestic market share through organic growth and complementary acquisitions, whilst also expanding its international geographical reach. Tinsa currently operates in Europe through its offices in Portugal and France, as well as Spain.
Advent's investment in Tinsa follows its long-standing strategy of investing in high-growth sectors where it has a solid track record and in companies with significant growth potential, either through the growth of the industry as a whole or through the increasing market share of the company itself, Advent said.
'We intend to help Tinsa, the clear leader of the Spanish market, to consolidate its position in Spain and complete its international expansion,' said Juan DÃaz-Laviada, CEO of Advent International.
