Indiana American Water Acquires Georgetown Water System in Indiana, US for USD 6.4m.
20 November 2017 - Indiana, US-based water utility operator Indiana American Water has acquired Indiana-based municipal water utility Georgetown Water for USD 6.4m, the company said.
This acquisition of the Georgetown system was approved by the Indiana Utility Regulatory Commission in October and closed by Indiana American Water and the Town of Georgetown on Wednesday, Nov. 15, 2017.
The Georgetown system will be incorporated into the company's Southern Indiana district, which currently serves approximately 100,000 residents.
The purchase of the system adds approximately 1,300 customers to the company's customer base, which represents a population of approximately 3,500 residents.
Indiana Water said the acquisition of this system will provide Georgetown customers with lower rates and access to operations and capital management water professionals and a number of customer service options and payment methods.
The company already provides water to several nearby communities and to the town of Georgetown through a wholesale contract.
Indiana American Water, a subsidiary of American Water (NYSE: AWK), is an investor-owned water utility, providing water and/or wastewater services to more than 1.3m people. The company employs more than 6,800, and supplies services to an estimated 15m people in 47 states and Ontario, Canada.
Target: Georgetown Water
Buyer: American Water
Deal size in USD: 6.4m
Type: Corporate Acquisition
Buyer advisor: , ,
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|Publication:||M & A Navigator|
|Date:||Nov 20, 2017|
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