Saur entered into an agreement with Veolia to acquire Veolia’s European Mobile Water Services and further expands its industrial water activities in Europe
Saur and Veolia announce the signing of an agreement for the acquisition by Saur of Veolia’s European Mobile Water Services division, one of the main mobile water players with a state-of the art fleet in Europe, as part of the commitments made by Veolia to address the European Commission’s competition concerns.
The agreement is formalized through a unilateral put option, which will allow the parties to complete the transaction for a total consideration of approximately €190 million, subject to the consultation process of Veolia’s employee representative bodies and receipt of the necessary regulatory approvals.
This acquisition represents a major milestone for the development of Saur’s Industrial Water activities, furthering the Group’s strategic ambition to be a provider of innovative, mission critical and sustainable water and wastewater treatment solutions helping industrial customers to master the hydric transition. It also increases the share of recurring and asset-based business within Saur’s Industrial Water segment.
Veolia’s European Mobile Water Services (MWS Europe) will become the global Mobile Water Services platform of Nijhuis Saur Industries (NSI). With the addition of Mobile Water Services, NSI obtains a single-source provider of full-service offering of mobile water solutions, including reverse osmosis, ultrafiltration and deionization with leading market positions and large installed base in growth end-markets in Europe.
MWS Europe comprises an owned asset base of close to 400 mobile water units, employs 70 people across the United Kingdom, France, Germany, Italy, Benelux, Spain, Poland and Sweden, and works with a diversified client base of more than 600 customers. Within Saur Group, MWS Europe’s customers will have access to Saur’s and NSI’s advanced water and wastewater treatment solutions.
Patrick Blethon, Executive Chairman of Saur: “I am looking forward to welcoming all MWS Europe’s talented employees into our Group. The acquisition of MWS Europe will strengthen our offering for industrial customers with essential mobile water infrastructure solutions. It is also a key step to increase the unique positioning and recurring nature of Saur’s Industrial Water activities.”
The transaction is expected to close before year-end 2022, subject to receipt of antitrust approvals and satisfaction of customary closing conditions. As part of the transaction, Saur will undertake all social commitments announced by Veolia.
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