Saur arrives in Latin America with its acquisition of Naunet in Colombia
Saur announces the acquisition of the Colombian company Naunet
Based at Barranquilla in one of the most dynamic areas of the country, this water service provider already serves around 400,000 consumers. This external growth acquisition takes Saur to a new level in its international development strategy by establishing a first presence in Latin America.
Naunet employs 300 people in the production and supply of drinking water and the provision of wastewater treatment services for midsize towns in three departments on the Atlantic coast of Colombia, delivered through five concession companies: Aguas de la Peninsula, Aguas de Aracataca, Aquamag, Aguas de Albania and Aguas del Sur del Atlantico. Naunet serves towns such as Maicao (the second-largest town in the Department of Guajira department, with a population of 165,000) and Fundacion (the third-largest town in the Department of Magdalena, with a population of 80,000). Established in 2013, the average remaining term of the concession contract held by Naunet is 17 years.
Under its water management decentralisation and privatisation policy, the Colombian government has transferred responsibility for drinking water supplies and wastewater treatment services to urban authorities, and these responsibilities are being increasingly delegated to independent public- or private-sector providers.
Saur is building a development platform in Colombia, whose stable regulatory framework, dynamic growth and significant water infrastructure investment needs offer the Group an attractive new market.
The cost of the acquisition has not been disclosed.
Saur Executive Chairman Louis-Roch Burgard: Our acquisition of Naunet is fully consistent with the Group's ambitions for 2023 and its desire to accelerate international expansion through targeted acquisitions in high-potential regions. Naunet will provide a platform for Group development in Colombia, and a base for wider expansion in Latin America”.