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CDG Invest Growth has signed an agreement to acquire a stake in Moroccan water company Société Nouvelle des Conduites d’Eau (SNCE), together with co-investor Mediterrania Capital Partners (MCP).
The founding Laraqui family will remain SNCE’s key shareholder. The deal is still subject to customary regulatory approvals. No financial terms were disclosed.
“For sixty-five years, our family and our teams have built SNCE into a national champion in water-related equipment and projects across all areas of the water sector. Welcoming CDG Invest Growth and Mediterrania Capital Partners as shareholders marks the beginning of an ambitious new chapter. Together, we will accelerate the group’s transformation and pursue our development in Morocco and across Africa and the Middle East, while remaining true to the entrepreneurial spirit and long-term vision that have characterised SNCE since its origins,” said Kamal Laraqui, chairman of SNCE.
Founded in 1961, SNCE operates across the water value chain, from pipe manufacturing and installation to infrastructure projects.
The company has developed expertise in various domains related to water resources, including environmental management, agricultural engineering, irrigation, and interconnections. The organisation’s sustained growth is reflected in its revenue, which has reached 2 billion dirhams, and its presence spans nine years across the African continent.
The company claims to have successfully irrigated 815,000 hectares of land, contributing to agricultural modernization, and has installed 3,800 kilometers of drinking water pipes to ensure widespread access to clean water.
Currently, its workforce consists of 2,500 collaborators dedicated to excellence, and it operates four desalination units as part of its commitment to sustainable innovation.
Based out of Casablanca, CDG Invest Growth, a private equity firm, focuses on sustainable growth and has invested in over 20 businesses across various industries. CDG Invest Growth collaborates with companies that have strong growth potential, helping them expand.
With its network, expertise, and financial resources, CDG supports entrepreneurs in realising their goals and increasing value, while also delivering high returns for its investors by improving operations, exploring new markets, and exiting investments effectively.
“SNCE is at the heart of a strategic priority that is essential for all Moroccans: securing and preserving water as a resource. By investing in the company alongside the founding family, we are supporting a business with unique expertise across the entire value chain and considerable growth potential. Our ambition is to support management in accelerating growth, strengthening governance and consolidating SNCE’s position as a national and regional champion,” said Hassan Laaziri, CEO of CDG Invest Growth.
