Cinven had contracted investment banks Rothschild and Evercore to find a buyer for Tinsa, which was valued at around 700 million euro and the process was expected to be concluded before the end of the Summer.
None of the proposals convinced Cinven, which decided to not sell the company and change its strategy.
The new strategy includes carrying out new acquisitions which will allow the company to grow internationally. Cinven announced a few months ago its intention to carry out an acquisition mega-plan in order to double its size in the coming years, by purchasing 14 smaller companies in 12 different countries.
In 2020, the appraiser led by Ignacio Martos reached revenues of 161 million euro, practically in line with the previous year. The forecast was to surpass 180 million euro in revenues in 2021.