SAUR, a leading French water services management company providing water infrastructure management services for municipalities, has announced the 100% acquisition by its Spanish subsidiary Gestagua of Nuinsa Inversiones, which held some of the Valoriza group’s equity investments in Emalsa, Sercanarias and Valorinima. The transaction increases SAUR’s previous 33% holding in Emalsa to 66%, with SAUR taking over responsibility for management of Emalsa alongside the city of Las Palmas via its Spanish subsidiary Gestagua.
Emalsa has managed every stage of the water cycle for the 400,000 residents of the Canary Islands capital since 1993. The company employs more than 300 people, and reported annual revenue of €52.7 million in 2017. The contract managed by Emalsa is a key benchmark in the market for seawater desalination by reverse osmosis using facilities with a total production capacity of 85,000 m3 per day.
This acquisition has been made in the context of SAUR’s Initiative 2022 strategic plan designed and implemented with the aim of raising Group annual revenue to €2 billion by 2022. The new expansion plan is underpinned by significant opportunities for growth in international markets.
CASE Corporate Finance France acted as sole financial adviser to SAUR Group.