A group of prominent Canarian businessmen, through the investment vehicle Archipélago Aguas, has acquired 45% of the shares of the parent company of the Canaragua Group in the Canary Islands,
a leading company in the comprehensive management of the water cycle and part of the Veolia group, with
operations on the eight islands.
In addition to Canaragua, the transaction includes its entire corporate footprint, including its stake in Canaragua Medioambiente, a company specializing in environmental services management and garden maintenance for both the public and private sectors; and Canat, which manages various upstream water assets on the island; as well as its stake as a key partner in Teidagua, Aguas de Telde, and Aguas de Antigua, among other companies.
Through this strategic alliance, Archipélago Aguas and Veolia reinforce their joint commitment to promoting an ambitious comprehensive growth plan that will enable Canaragua to address the challenges facing the Canary Islands in the coming years in terms of water, energy, and waste management.
The Archipélago Aguas vehicle is comprised of some of the Canary Islands' leading companies, including Grupo Martinón, Domingo Alonso Group, and Satocan.
The proposal to incorporate local partners in Canaragua responds to a strategy aimed at strengthening the company's position and accelerating its growth through the support and collaboration of key players in the Canary Islands economy. This transaction aims to accelerate Canaragua's growth by capturing new opportunities, as well as implementing affordable and replicable solutions that decontaminate, decarbonize, and regenerate natural resources in the Canary Islands, directly contributing to the ecological transition and the well-being of local communities.
In this way, this alliance combines the global experience of Veolia, a world leader in optimized resource management, with the in-depth knowledge of the local market provided by both the three leading companies in the Canary Islands and Veolia's own local teams. Together, they will contribute value in three key areas: strategic development and sustainable growth; the opening of new markets; and the creation of innovative solutions specifically tailored to the islands' tourism and industrial sectors.
"Together, we are laying the foundation for a transformative project that will provide Canaragua, part of the Veolia group, with the necessary capacity to respond to the Canary Islands' future challenges in the areas of water resource management. Our shared commitment is to promote sustainable and comprehensive growth that contributes to the development of the islands," says Daniel Tugues, Veolia's Country Director in Spain.
Canaragua's future Board of Directors will be chaired by José Juan González, the company's current CEO, ensuring the continuity of local leadership and the company's deep roots in the islands' economic and social fabric.
"We want to strengthen a company that has been part of the development of the Canary Islands for decades," say Archipélago Aguas representatives through its President, José Julio Artiles. "Our commitment is to partner with Veolia in a project that combines sustainability, innovation, and commitment to the archipelago's future."
.
With over 35 years of experience, Canaragua serves more than 30 municipalities in the Canary Islands and more than 1.5 million customers, ensuring efficient and sustainable water management in a region where this resource is especially valuable.
The joint strategic plan includes new investments in digitalization, energy efficiency, the circular economy, and integrated water and waste solutions, aligned with the Canary Islands' sustainability and ecological transition goals.
For his part, José Juan Gonzalez, President and CEO of Canaragua, emphasized: "The addition of Canary Island partners strengthens Canaragua's local roots and commitment to the archipelago's sustainable development. Together, we will continue to provide innovative solutions for the well-being of the island communities and the protection of the environment."
.
About Canaragua
Canaragua, a Veolia Group company, is a leader in integrated water cycle management in the Canary Islands. With over 35 years of experience, it provides services for all or part of the water cycle to more than one and a half million inhabitants in more than 30 municipalities, contributing to the archipelago's water and environmental sustainability.
About Archipelago Waters
Archipélago Aguas is an investment vehicle formed by leading Canarian entrepreneurs and business groups, such as Grupo Martinón, Domingo Alonso Group, and Satocan. Its objective is to support strategic projects that generate value, employment, and a future in the Canary Islands. It is expected that other important companies in the Canary Islands will join in the future.
Martinón Group is a Spanish family-owned company specializing in tourism investments, founded in 1973 by Enrique Martinón Armas. The Group has established itself as a business venture with operations in four countries (Spain, Mexico, the Dominican Republic, and Aruba), dedicated to the development, launch, marketing, and management of hotels.
Domingo Alonso Group is a Canarian business group whose main activity is in the automotive sector, as a marketer for major automotive brands, and in new technologies. It currently operates in more than 35 countries, with more than 1.500 employees dedicated to mobility and vehicle distribution.
Satocan Satocan is a Canarian business group with over 40 years of experience. It began its activity in construction and real estate development, later expanding into strategic sectors such as tourism, shopping centers, parking, and energy production, among others. With nearly 1.000 employees, Satocan has a presence on three continents: Europe, Latin America, and Africa.
About Veolia
The Veolia Group aims to become a leading company in ecological transformation. Present on five continents and with 220.000 employees, the group designs and implements practical and effective solutions for water, waste, and energy management, contributing to the sustainable development of the communities where it operates.
