The entry of CDG Invest Growth and Mediterrania Capital Partners into the capital of Société Nouvelle des Conduites d’Eau (SNCE) opens a new chapter for the Moroccan industrial group founded in 1961. Announced on September 3, 2026, the transaction is expected to strengthen the company’s industrial capacity, improve governance and accelerate its international expansion, particularly in African markets.
Founded more than six decades ago by the Laraqui family, SNCE has established itself as a Moroccan player specializing in hydraulic infrastructure, equipment and projects.
The entry of institutional investors into its capital represents more than a financial transaction. It reflects a strategy aimed at transforming a long-established industrial company into a new platform for regional growth. The founding family remains the reference shareholder and will continue to support management during this new phase.
CDG Invest Growth and Mediterrania Capital Partners, for their part, are expected to bring financial resources, governance expertise and strategic support to accelerate the company’s development. The transaction comes at a time when the water sector is becoming increasingly strategic for Morocco, given growing pressure on water resources and rising investments in seawater desalination, drinking-water supply, irrigation, wastewater treatment and water reuse.
Water Becomes an African Industrial Market
SNCE also intends to strengthen its international presence, particularly in West Africa, in line with the expansion of Moroccan companies across African markets.
Morocco has developed growing expertise in major hydraulic infrastructure projects, creating new opportunities for national companies beyond the domestic market. The entry of investment funds into SNCE’s capital also highlights the growing role of development capital in transforming Moroccan industrial companies.
Financial resources are no longer aimed solely at maintaining operations. They are increasingly being used to develop productive capacities, improve governance and accelerate international expansion. For Morocco, the challenge goes beyond SNCE itself. It is about creating industrial champions capable of providing technical solutions for major infrastructure projects across the continent.
The transaction remains subject to the required regulatory approvals, particularly those relating to economic concentration control.
