What Rimon Group does

Rimon Group is an Israeli publicly traded infrastructure company (Tel Aviv Stock Exchange, IPO June 2021) specializing in water, energy, and natural gas infrastructure across four continents. Founded in 1997 and headquartered in Caesarea, Israel, the company operates four business divisions: Rimon Construction (infrastructure, tunneling, marine works via subsidiary Mer-Ter, and pipe jacking via Hincas Teledirigidas in Spain), Rimon Water (water supply, desalination, wastewater treatment, pipelines and reservoirs), Rimon Energy (cogeneration, solar PV over reservoirs, biogas, electricity distribution, and licensed natural gas distribution), and Rimon Global (international EPC and EPCF contracts with export credit financing in Africa and Latin America).

The company holds regulated utility franchises including 25-year BOT licenses for natural gas distribution in northern and central Israel through Merimon Natural Gas North and Rotem Natural Gas, and 10 electricity distribution license areas serving over 13,000 consumers through Mashkee-Ram. Rimon serves government water utilities (Mekorot, Mei Ayalon), industrial facilities, hospitals, and agricultural cooperatives, with notable projects including the Water for All initiative in Côte d'Ivoire serving over 1 million people across 111 sites.

Revenue is generated through a mix of one-time project-based EPC contracts (NIS 100M–230M individual tenders) and recurring regulated utility revenues from gas and electricity distribution. The go-to-market combines competitive tender participation for government infrastructure projects with direct enterprise sales to industrial and institutional customers, complemented by international project development through subsidiaries and strategic partnerships. The company employs 251–500 staff and has pursued an active acquisition strategy, including the 2022 acquisition of marine works firm Mer-Ter (67% stake, NIS 28M) and the 2023 full acquisition of Spanish pipe jacking specialist Hincas Teledirigidas from Terratest for EUR 30.8M.

Name

Rimon Group

Legal name

Rimon Group (רימון שירותי ייעוץ וניהול בע"מ)

Website

https://rimongrp.com

Company type

Public

Founded year

2018

Operating status

Operating

Headcount range

251–500 employees

Short description

Rimon Group is an Israeli publicly traded infrastructure company (TASE) operating across water, energy, natural gas, and construction sectors via four divisions. It serves government utilities, industrial facilities, hospitals, and agricultural communities in Israel and across four continents through EPC projects and licensed regulated utility distribution.

Ownership category

akta.pro rank

Product category

Water and Energy Infrastructure Services

NAICS

Utility System Construction (2371), Water Supply and Irrigation Systems (221310), Electric Power Generation, Transmission and Distribution (2211)

SIC

Water, Sewer, Pipeline, Comm & Power Line Construction (1623), Water Supply (4941), Natural Gas Distribution (4924), Natural Gas Transmisison & Distribution (4923)

akta.pro primary industry

Balance-of-Plant (BOP) & Civil Works for Power Plants (EUAEAAAL)

akta.pro secondary industries

Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), Hydro BOP Civil & Water Conveyance (Dams, Spillways, Penstocks, Canals) (EUAMAFAG), Foundations & Geotechnical Works (Piles, Anchors, Ground Improvement) (EUAMAFAB)

Keywords

• Water infrastructure
• Natural gas distribution
• Renewable energy
• EPC contracting
• Utility services

Headquarters

HQ city

Caesarea

HQ country

Israel

HQ region

Middle East

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Water Infrastructure Projects: Design, construction and operation of water infrastructure including pipelines, pumping stations, reservoirs, and treatment facilities through EPC and BOOT models
2. Energy Generation and Distribution: Cogeneration facilities, solar PV installations, and energy storage providing electricity to industrial and commercial customers
3. Natural Gas Distribution: Natural gas distribution through licensed regional networks in northern and central Israel, supplying industrial plants, hospitals, and public institutions
4. Electricity Distribution: Electricity distribution to rural communities through licensed distribution areas, serving over 13,000 consumers
5. Construction Services: Construction and civil engineering services for infrastructure projects including highways, railways, and underground utilities

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Rimon Group designs, builds, finances, and operates water, energy, and natural gas infrastructure for government utilities, industrial clients, and communities in Israel and internationally. Its core offerings span EPC and BOOT/BOO project delivery for water conveyance, desalination, and wastewater treatment; cogeneration, solar PV, and energy storage; licensed natural gas and rural electricity distribution; and construction services including tunneling and horizontal directional drilling.

Product overview

Rimon Group is a diversified infrastructure company operating four main business divisions: Rimon Construction (infrastructure and underground projects including marine works via subsidiary Mer-Ter), Rimon Water (water supply, wastewater treatment, desalination, and pipeline networks), Rimon Energy (cogeneration, solar PV, energy storage, and electricity distribution via subsidiary Mashei Ram), and Rimon Global (international EPC and project financing services). The company holds licenses for natural gas distribution networks in northern and central Israel and electricity distribution across rural communities. Rimon Group serves industrial, institutional, and agricultural clients in Israel and internationally across 4 continents.

Differentiator

Problem solved

Functional benefit

Products and services

• Rimon Construction Infrastructure construction services covering underground projects, tunneling, and horizontal directional drilling (HDD) operations for government and enterprise clients. Capabilities are expanded by the 2022-acquired marine works subsidiary Mer-Ter.
• Rimon Water Water infrastructure solutions including water supply, wastewater treatment, desalination, pipeline networks, pumping stations, and water storage reservoirs, delivered through design, construction, and operation services for government utilities and agricultural clients.
• Rimon Energy Comprehensive energy solutions including cogeneration facilities, solar PV systems installed over water reservoirs, energy storage, biogas facilities, electricity distribution, and smart grid management delivered through subsidiary Mashkee-Ram.
• Rimon Global International infrastructure projects covering water and energy solutions across multiple continents, including project financing, EPC (Engineering, Procurement, Construction), and EPCF contracts with export credit financing arrangements.
• Natural Gas Distribution Networks Low-pressure natural gas distribution through licensed regional networks in northern and central Israel via subsidiaries Merimon Natural Gas North and Rotem Natural Gas, operated under 25-year BOT agreements with the State of Israel and serving industrial plants, hospitals, and public institutions.
• Electricity Distribution (Mashkee-Ram) Licensed electricity distribution serving over 13,000 consumers across 10 distribution license areas including kibbutzim and moshavim, with smart grid management, solar PV installations, and energy storage systems.

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Shikun & BinuicoreStrategic or Co-development PartnerStrategic collaboration agreement signed in October 2023 for dual usage of land for both agriculture and renewable energy generation. This partnership enables combined solar PV deployment on agricultural land, advancing renewable energy while preserving farmland.
• AnaergiacoreStrategic or Co-development PartnerGlobal partnership for biogas facility development. Rimon and Anaergia collaborated on a NIS 12M biogas project for Kibbutz Lahav, converting agricultural waste into electricity.
• Mer-Ter (Marine Works)coreOthersAcquired 67% control of Mer-Ter, a marine and development construction company, for NIS 28M at a company valuation of NIS 50M. Expands marine infrastructure capabilities.
• Hincas Teledirigidas (Spain)coreOthersFully acquired Spanish pipe jacking company from Terratest for EUR 30.8M. Expands presence in Latin America, Europe, and Asia markets with annual revenue potential of USD 7 billion.
• H2ID (Hadera Desalination)minorStrategic or Co-development PartnerWon NIS 121M contract as joint venture partner with French infrastructure company for marine tunnel construction at Hadera desalination facility under H2ID operation.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Shikun & Binui: Israel-based infrastructure and construction group with overlapping activities in water (desalination, conveyance), renewable energy (solar), and concessions. Active Rimon partner (agrivoltaics JV) and direct competitor for Israeli government tenders and international EPC.
• Electra (Electra Ltd.): Israeli infrastructure and construction conglomerate operating in building systems, infrastructure, and energy. Direct peer for water, energy, and large-scale EPC work in Israel and internationally.
• Terratest (Acciona subsidiary): Spanish pipe jacking and HDD specialist, former owner of Hincas. Directly comparable trenchless technology capability and Iberian/Latin American footprint, now a competitor in the markets where Rimon operates via Hincas.

Regional players

• Minrav Group: Israeli construction and infrastructure group active in residential, commercial, and infrastructure projects, including water and energy. Comparable in tender-based construction profile and Israeli footprint.
• Ellomay Capital: Israeli renewable energy operator (solar PV, wind, biogas) listed on TASE and NYSE. Comparable in Israeli renewable energy development and regulated/contracted revenue structure.

Broad incumbents

• Veolia Environnement: Global leader in water and wastewater management with concessions worldwide. Comparable in water utility operations, treatment technology, and large-scale international EPC delivery — overlapping on the Ivory Coast water project.
• Suez SA: French multinational water and waste management operator with concession expertise in municipal water treatment and desalination. Comparable utility-operator and EPC profile, especially in developing markets.
• ACCIONA Infrastructure: Spanish global infrastructure group with water, renewable energy, and tunneling/HDD capabilities (parent of Terratest, former Hincas owner). Most relevant global incumbent peer given the Hincas acquisition lineage and parallel Latin American exposure.
• ENGIE SA: French multinational energy and utility operator with gas distribution, cogeneration, renewables, and water infrastructure. Comparable to Rimon Energy's cogeneration and gas distribution franchises at global scale.

Emerging players

• Anaergia Inc. Canadian-listed biogas and waste-to-energy technology company. Rimon partner on Israeli biogas projects (Kibbutz Lahav), with partial overlap in waste/biogas facility development and renewable energy delivery.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/RimonGroup
• LinkedInlinkedin.com/company/rimon-group

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Rimon Group