Clearwater International has advised Saur on its acquisition of Aquapor
Clearwater International has advised SAUR, a leading French water supplier and wastewater treatment services provider, backed by the Swedish private equity EQT firm, on its acquisition of Aquapor, a leading Portuguese player in water supply and wastewater sanitation.
Founded in 1997 and based in Lisbon, Aquapor is a reference player in the provision of water supply and wastewater sanitation services in Portugal. Through 14 long-term concession contracts, including landmark concessions such as Cascais and Gondomar, the company provides its services to 26 municipalities and 1.3 million people throughout Portugal. Its unique national coverage is a decisive competitive advantage in the market.
Through its subsidiary Luságua, Aquapor offers operation and maintenance services of wastewater treatment plants and other water infrastructures, technical assistance, specialised audit and analytical control services to the water sector, as well as collection and transportation of solid waste and urban cleaning. Aquapor also has a 30% undertaking in the company that provides the water supply and wastewater treatment services to a number of large industrial cities in Saudi Arabia.
The operation is a game-changer for Saur’s international activities with the addition of almost €120m in revenue and 1,300 employees serving 1.3 million people. It represents another decisive step in Saur’s strategy roll-out after the acquisition of Nijhuis which was announced in June, enabling Saur to pursue building a leading and sustainable water pure player dedicated to the ecological transition.
This transaction is a milestone in the transformation of Saur into a more balanced Group specialising in water services for France and internationally, bringing its international division to 30% of the Group’s EBITDA going forward. By combining Aquapor in Portugal together with Gestagua and Emalsa in Spain under the same Group, Saur becomes the third operator in Iberia with almost €250m in revenue. The transaction will generate significant synergies notably through sharing of best practice and access to the Portuguese market for Saur’s solutions and technologies.