Almar Water Solutions, a leading company in the development and management of water infrastructure and services, and part of Abdul Latif Jameel Energy, has acquired a 50% stake in Aguas San Pedro S.A., a company that operates in the water concession market in Chile, providing services to more than 39,000 customers and serving a population of more than 150,000 inhabitants.
With this new acquisition, Almar Water Solutions expands its activities and enters the urban services market (comprehensive water cycle), confirming its commitment to the creation of regional service platforms with local partners to bring it closer to the real situation of each area and customer.
This transaction complements Almar Water Solutions' offering and its presence in the Chilean and Latin American markets, following the acquisitions of Osmoflo SpA in 2019 and 50% of Aguas y Riles S.A. in 2021 in the industrial water market, which are now operating as Almar Water Services Latam after the merger.
After the transaction was closed, Carlos Cosín, CEO of Almar Water Solutions, said: "We reaffirm our commitment to provide municipal and industrial water services hand in hand with local partners, in order to extend our expertise and financial capacity to Chile and other areas of Latin America. The region has a very large water demand, unequal distribution of resources and big effluent treatment needs, where Almar can contribute significant value in the development and management of solutions based on non-conventional technologies".
After more than 5 years in the market, Almar Water Solutions already has a presence and assets in operation in Spain, Chile, Egypt, Bahrain, and Saudi Arabia and continues its international expansion, focusing now on important markets such as Asia-Pacific and the United States of America, with a strategy aimed at investments, services, and technological innovation.