Aqua America chairman, Nicholas DeBenedictis, said: “Aqua continues to strategically plan and execute our growth efforts in states like Texas, where our operations already have critical mass and which is one of the fastest growing states in the nation. The Dancing Bear subdivision will expand our footprint in the San Antonio suburbs, helping us build economies of scale. We look forward to serving our new customers.”
The water system currently serves about 200 people, but is expected to reach a population of more than 2,000 people.
Aqua has reached an agreement to sell its Maine operations to Connecticut Water Service. Aqua will sell its regulated operations in New York (50,520 customers) to American Water AWK and purchase American Water’s operations in Ohio (57,280 customers).
In June, Aqua America’s Texas subsidiary acquired 51 water and five wastewater systems from Texas American including 4,200 water and 1,100 wastewater customers for $6m. That transaction was the final step in a property swap between the two companies that began in May, when Aqua America sold the bulk of its regulated Missouri operations to American Water for $3.2m.
Source: Aqua America
© FoodBev Media Ltd 2024