Casablanca. Société Nouvelle des Conduites d’Eau (“SNCE”), the Moroccan leader in water equipment and hydraulic projects, together with CDG Invest Growth (“CIG”), a management company of OPCCs and a subsidiary of CDG Invest, and Mediterrania Capital Partners (“MCP”), a financial investment manager specializing in growth investments in Africa, today announced the signing of a Share Purchase Agreement under which CIG and MCP will jointly acquire, alongside other co-investors, a stake in SNCE. The founding Laraqui family will remain the reference shareholder and will continue to support the Group’s management, marking the beginning of an ambitious new phase in the company’s development.
This partnership brings institutional shareholders into SNCE’s capital who, alongside the founding family, will contribute to accelerating the transformation of a company at the heart of one of Morocco’s, Africa’s and increasingly the world’s most strategic priorities: securing and preserving water as a vital resource.
A Moroccan leader across the entire water value chain
Founded in 1961, Société Nouvelle des Conduites d’Eau (SNCE) and its Group are the Moroccan leaders in water equipment and hydraulic projects. Over more than six decades, the Group has developed undisputed expertise across the entire value chain — from pipe manufacturing and installation to the execution of complex infrastructure projects — establishing itself as a benchmark in the fields of drinking water supply and management, urban sanitation, wastewater treatment, agricultural irrigation, desalination and “water highways” that transport the resource to where it is most needed, as well as the direct management of agricultural areas operated under multi-year concessions. This expertise is underpinned by experienced management and a substantial equipment fleet.
SNCE has also initiated an internationalisation strategy, with a past presence in Libya and Saudi Arabia, and a growing presence on projects in West Africa — in Burkina Faso, Benin, Niger and Cameroon — thereby laying the foundations for a genuine international growth driver.
A new chapter built on more than six decades of expertise
For the Laraqui family, the arrival of two leading institutional investors opens a new chapter in a story that began sixty-five years ago — a chapter aimed at accelerating SNCE’s transformation while preserving the values and long-term commitment that have shaped the Group since 1961.
“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.” - Kamal Laraqui, Chairman of SNCE
Institutional shareholders to accelerate the Group’s transformation
As shareholders, CIG and MCP 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 in Morocco and internationally.
“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.” - Hassan Laaziri, Managing Director of CDG Invest Growth
Supporting the next phase of growth and international expansion
Drawing on its experience across Africa and its hands-on investment approach, MCP will support SNCE in strengthening its industrial capabilities, broadening its offering and pursuing the international expansion already underway in West Africa.
“This investment reflects MCP’s 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 offering in water supply and treatment, irrigation, desalination and ‘water highways’, as well as accelerating its international expansion. Together, we aim to create sustainable, long-term value for all the Group’s stakeholders.” - Hatim Ben Ahmed, Managing Partner at Mediterrania Capital Partners
Completion of the transaction remains subject to the satisfaction of customary conditions precedent, including obtaining the approval of the Competition Council.