Saur, the third largest water company in France, announced on Wednesday the imminent arrival of new investors along with its sole shareholder to support its development and allow it to double its turnover by 2030, according to its chief executive Patrick Blethon.
“EQT Infraestructura has started exclusive negotiations with PGGM and DIF Capital Partners for the sale of 50% of its current and indirect stake in the capital of Holding d’Infrastructures des Métiers de l’Environnement (HIME), holding de Saur”, announced the band in a statement.
The operation, the amount of which has not been disclosed, “is subject to obtaining the applicable regulatory authorizations,” the group specifies.
specialized funds
Like the Swedish fund EQT, the two Dutch funds PGGM and DIF Capital Partners have “expertise in water: we are strengthening our networks, our knowledge and our know-how,” Blethon said during an interview with AFP.
“We wanted shareholders to accompany us on the trajectory of 2030, that is, 4,000 million euros of turnover,” he explained, while the group has “almost two billion” for 2022.
If the group intends to accelerate its growth in France, it also intends to grow “by promoting its international development and capitalizing on the success of its industrial water business”.
“France remains a priority for us and for our shareholders and it is also our international development that will make Saur an international group”, stressed Blethon, recalling that the group today reaches 40% of its turnover abroad, compared to ” almost zero three and a half years ago.”
An expansion built on the basis of acquisitions (fifteen in the last four years), a strategy that will continue with this operation, carried out at “100% of own resources”, and that should allow the group to increase its “investment capacity”, he said Mr. Blethon, highlighting the “stability” of governance.
From 7,000 to 13,000 employees in 3 years
The group also intends to maintain the strategy, initiated since the arrival of Mr. Blethon, of refocusing on its core “water transition” business: water distribution, treatment, protection.
The group “has gone from 7,000 employees to 13,000 in three years”, particularly due to growth in France, recalled Mr Bleton.
In France, Saur completed its reorganization into regionalized centers in mid-2021, with the aim of bringing it closer to the customer.
Also present in Saudi Arabia, Cyprus, the United States and many European countries, among other places, Saur’s customer base includes some 9,500 local authorities and contract manufacturers, serving 20 million consumers worldwide.
Source: BFM TV
