PE-backed Tinubu acquires eSurety

New York-based Long Arc Capital and BPI France injected an additional €15m in equity into the company to finance the bolt-on.

Long Arc and BPI France invested €53m in Tinubu in October 2017. Long Arc took a majority stake in the company, while BPI France, a shareholder since 2011, re-upped through its Large Venture vehicle. The fund held a final close in September 2013 on €600m. It invests in the healthcare, digital and green technology spaces. The vehicle funds high-growth French companies with significant capital requirements for their international, industrial or commercial development. 

The eSurety acquisition will allow Tinubu to expand its business in the US and Canada.

Daniel Buckles, the former CEO of eSurety, was appointed deputy CEO of Tinubu Square Americas and president of Tinubu Square Surety Americas.

Company
Founded in 1998 and headquartered in Casselberry, Florida, eSurety is a provider of cloud-based surety systems for automated underwriting, account risk analysis, bond lifecycle management, and surety analytics. It has 11 employees, according to LinkedIn.

People
Tinubu Square – Jérôme Pezé (founder, CEO).
eSurety – Daniel Buckles (former CEO).

Advisers
Acquirer – Jones Day (legal).
Company – Pepper Hamilton (legal).

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• Topics
• Expansion
• France
• Technology
• France
• BPI France
• Build-up