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Aqua America Buys Water, Wastewater Systems in Five US States.

M2 EQUITYBITES-September 21, 2015-Aqua America Buys Water, Wastewater Systems in Five US States

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21 September 2015 - US-based water utility operator Aqua America's (NYSE: WTR) subsidiaries in Virginia, Texas, Pennsylvania, North Carolina and Illinois have completed the acquisitions of water and wastewater systems in their states, the company said.

The total paid in these transactions was USD 1,195400.

Aqua Virginia acquired the assets of Wintergreen Valley Utility company, L.P., owner of the Wintergreen Stoney Creek public water and sewer systems, which serve water to approximately 1,200 residents and provide wastewater service to approximately 475 residents in Nelson County, Virginia.

The water and wastewater systems were purchased for USD 537,950 and USD 113,250, respectively. The company also acquired the assets of the Venter Heights public water system, which serves approximately 400 people in King William County, Virginia, for USD 85,000.

Aqua Texas acquired the assets of Union Hill Water Supply Corp., which serves approximately 500 people in Henderson County, Texas, for USD 356,000.

The company's Aqua Pennsylvania unit purchased the assets of the Bunker Hill Wastewater company and the Factoryville Bunker Hill Water company, each of which serves approximately 180 residents in Factoryville Borough, Wyoming County, for USD 135,000.

Aqua North Carolina acquired the assets of the Water Works of Alamance County, which serves approximately 300 residents in Cary, for USD 43,000.

In addition, Aqua North Carolina invested USD 5,200 to acquire the assets of the Mountain Ridge Estates water system, a utility that serves 100 residents in Watauga County.

Aqua Illinois acquired of the water utility assets of Summerdale from the Village of Norridge in Cook County for USD 5,000.

This system serves approximately 180 residents in unincorporated Norwood Township, near Aqua's recently acquired North Maine Utility.

Aqua America is one of the largest US-based, publicly traded water utilities and serves nearly 3 m people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR.

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Publication:M2 EquityBites (EQB)
Date:Sep 21, 2015
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