Moroccan water infrastructure group SNCE welcomes investors for next growth phase
SNCE, a Moroccan water infrastructure group, has sold a stake in the company to investors CDG Invest Growth and Mediterrania Capital Partners. Accuracy and Asafo & Co provided buy-side M&A advisory services.
Founded in 1961, Société Nouvelle des Conduites d’Eau (SNCE) specializes in water equipment and hydraulic projects. Over more than six decades, the company has developed expertise across the entire value chain – from pipe manufacturing and installation to the execution of complex infrastructure projects – spanning areas such as water supply and management, urban sanitation, wastewater treatment, agricultural irrigation, desalination and water transport.
While the firm delivers most of its work in Morocco, SNCE also has a growing presence on projects in West Africa including in Burkina Faso, Benin, Niger and Cameroon.
In a deal aimed at accelerating international growth, SNCE has brought external investors on board. The Laraqui family, which founded and has led the company for more than six decades, will retain a majority stake, while CDG Invest Growth and Mediterrania Capital Partners will each become minority shareholders. Financial terms of the transaction were not disclosed.
“Welcoming CDG Invest Growth and Mediterrania Capital Partners as shareholders marks the beginning of an ambitious new chapter,” said Kamal Laraqui, Chairman of SNCE. “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.”
During the deal process, Accuracy provided financial advisory and due diligence services to the investors, while Asafo & Co provided legal counsel. SNCE’s dealmakers were not known at the time of writing.
The next chapter
As shareholders, CDG Invest Growth and Mediterrania Capital Partners will work closely with SNCE’s management to support the next phase of growth – strengthening governance, enhancing operational capabilities and consolidating the group’s position as a leading partner for water equipment and hydraulic projects.
Hassan Laaziri, Managing Director of CDG Invest Growth, said: “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.”
Hatim Ben Ahmed, Managing Partner at Mediterrania Capital Partners, added: “This investment reflects our conviction in the strategic importance of the water sector and our hands-on approach to building regional champions. Alongside CDG Invest Growth and the Laraqui family, we will support SNCE in strengthening its industrial capabilities, expanding its offerings, as well as accelerating its international expansion.”
