Sacyr Vallehermoso Group has bought the Sufi group, the leading Spanish independent company specializing in environmental services and in the water management. The transaction implies for SyV a significant step forward in its growth strategy in the services sector and in diversifying its business structure, which already has four well-defined and consolidated business lines: construction, housing development, rental properties, and transport infrastructure concessions.
The agreement with Sufiâs shareholders, Naranjoâs family (64%) and Torreal (36%), will entail the acquisition by SyV of 100% of the company for 142 million euros. Today, the board of directors of the Sacyr Vallehermoso group has approved the terms of this transaction, which have received three favorable independent opinions.
After this acquisition, the group foresees quadrupling its 2005 versus 2004 turnover and reaching 380 million euros in the services area, obtaining ebitda margin upper than 10%.
In 2004, the Sufi group recorded turnover of 110 million euros, with EBITDA of 13 million euros. It focuses its activity on several areas of business totally complementary to those of Valoriza:
- Solid urban waste (cleaning and pick-up, exploitation of treatment plants);
- water management (treatment and use of sewage and muds, water supply, drainage/plumbing);
- multiservices (gardening, interior cleaning, parking meters);
- wind energy (projects and studies of more than 300 MW); the SyV group reaffirms its commitment to this business;
- others (roads maintenance, special civil works, consulting).
The integration of Sufi will allow Valoriza to have:
- a greater growth potential in the services sector;
- leadership in waste treatment technology and mud purification;
- national presence;
- highly-qualified professional team;
- significant long-term revenue portfolio (23 years on average);
- a better position to provide integral environmental services to public and private customers.
Source: Grupy SyV