The Arab Energy Fund-led consortium concludes acquisition of Metito Utilities

Riyadh-headquartered The Arab Energy Fund (TAEF), formerly known as APICORP, has successfully led a consortium to acquire a 100 per cent stake in Metito Utilities, a global leader in sustainable water management solutions.

This acquisition underscores TAEF’s strategic commitment to advancing energy security, and sustainability and addressing water scarcity challenges across emerging markets.

The acquisition, which also includes growth capital for Metito, was completed in partnership with Zamil Group Investment Company and the Ghandour family.

This landmark deal enhances TAEF’s leadership in energy infrastructure and sustainable water solutions, particularly in the Middle East, Africa, and Asia.

Metito Utilities, a pioneer in the water sector since 1958, specialises in the investment, development, operation, and maintenance of water and wastewater concessions, with a track record spanning over 35 successful projects globally.

Metito’s expertise includes first-of-their-kind public-private partnerships (PPPs) in countries such as Saudi Arabia, the UAE, Uzbekistan, Egypt, Rwanda, Serbia, and Qatar, among others.

The company’s continued focus on sustainability has positioned it as a key player in addressing the global water crisis.

#TheArabEnergyFund, with Zamil Group and the Ghandour family, has acquired Metito Utilities to advance sustainable infrastructure and tackle water security challenges.

For more information: https://t.co/ElkUzXSFxG pic.twitter.com/35uaZ1aZjj

— The Arab Energy Fund (@ArabEnergyFund) January 8, 2025

Strategic milestone for TAEF

Khalid Ali Al-Ruwaigh, CEO of TAEF, described the acquisition as a pivotal moment in the fund’s mission to support sustainable infrastructure and energy value chains. “Water and energy are deeply interconnected,” he said. “This collaboration with Zamil Group Investment Company, the Ghandour family, and Metito’s team enables us to strengthen regional leadership in addressing water scarcity while delivering long-term value.”

TAEF’s acquisition further accelerates its push to address infrastructure challenges in water and wastewater management and expands its role as a leading impact investor in the region.

Abdullrahman K Al Zamil, president of Zamil Group Investment Company, emphasised the alignment between the acquisition and the group’s broader vision for business excellence with a meaningful impact. “Water security is fundamental to the future of our region,” he said. “This partnership with Metito Utilities reinforces our commitment to sustainable development and delivering proven water solutions to the communities and industries that need them most.”

Sustainable growth

Rami Ghandour, CEO of Metito Utilities, reflected on the significance of the new partnership, which he believes marks the beginning of a new era for the company. “Our legacy of delivering innovative water solutions continues,” he said. “With the support of our new partners, we are poised to expand our impact and further drive water efficiency across emerging markets.”

The acquisition represents a significant step forward for Metito Utilities, ensuring continued growth and innovation in water management, while further enhancing its capacity to provide tailored, sustainable solutions to address global water insecurity.

The acquisition aligns with TAEF’s broader strategy to drive sustainable infrastructure development and measurable impact in the MENA region. The fund’s continued focus on energy and energy-adjacent sectors highlights its role as a preeminent impact investor, advancing both economic prosperity and environmental stewardship.

Under its new ownership, Metito Utilities is well-positioned to build on its legacy, pioneering new water solutions that promise to improve water access and efficiency across emerging markets worldwide.