Our investment criteria
01.
Company profiles
- Tunisian SMEs with strong potential
- SMEs in growth, mature or transmission phase
- Strong commitment to become institutionalized, to develop and/or to internationalize
- SMEs operating in any sector except real estate and seaside tourism
02.
Ticket size and investment period
- Minimum of TND 5m per investment
- Possibility to co-invest with other institutions
- Investment period from 4 to 7 years
03.
Proposed investment tools
- Equity: cash-out or cash-in with minority or majority stake
- Mezzanine or convertible financing in case of dilution constraints
Our target
Companies in different phases of life cycle and maturity for which we propose adequate financial structures
Development & organic growth
- Development and modernization of the production equipment, distribution network, sales, logistics, etc
- Financing of working capital requirement
- Financing of R&D investments
Build-up &
external growth
- Acquisition of a company, an activity, a patent, distribution channels
- Integration of the value chain upstream/ downstream
- Market shares increase and economies of scale
- Expansion towards new markets
Consolidation & transmission
- Buyouts in the context of transmission or rationalization of the business portfolio in a group companies (withdrawal of non-strategic activities)
- Implementation of Management Buy-Out (MBO) or Management Buy-In (MBI) allowing existing or newly formed management teams to buy-back their/ a company
- Financing of the restructuring/ development prior to an IPO
Restructuring
- Rebalancing of the balance sheet
- Financing of working capital requirement
- Sale of non-strategic assets
Our contribution to the companies
in which we invest
01.
Operational
optimization
- Identification of opportunities for growth, margin improvement and implementation of development strategies
- Optimization of the HR organization
- Implementation, when needed, of governance and reporting practices in line with international standards
- Implementation, when needed, of an IT system and improvement of control process, budget, etc
02.
Funding and financial
optimization
- Adequate funding in line with the company profile in terms of profitability, capacity to generate cash flows, etc
- Optimization of balance sheet management with a focus on working capital and cash management as well as on capital structure optimization
03.
Access to our business
network
- Partnerships, markets: connection with potential interesting partners (clients/suppliers)
- Human resources: helping to identify / recruit the best talents suiting the target’s needs
- Fundraising: helping to access bank and/or external financing