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Industrial/Municipal

Aqua America announces recent acquisitions

December 09, 2010
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BRYN MAWR, PA. — Aqua America Inc. announced that its Texas subsidiary has acquired the water system assets of Pecan Utilities Co. Inc., in Llano County, and the water system assets of Cavern Springs Water Company in Burnet County in a single transaction of $394,000, according to a press release.

The two systems collectively serve approximately 600 residents.

Aqua America also announced that its New Jersey subsidiary has acquired the stock of the Wallkill Water Company and the Wallkill Sewer Company, which each serve approximately 1,200 people in Hardyston Township, Sussex County, according to the release.

Aqua New Jersey paid $300,000 for each acquisition for a total of $600,000.

In total, Aqua America subsidiaries have completed 19 acquisitions for this year.

“Throughout the year, we’ve added several ‘tuck-in’ acquisitions to our core service territory, which has a positive impact on the business by allowing Aqua to maximize our economies of scale,” said Aqua America Chairman and CEO Nicholas DeBenedictis.

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