Pennsylvania American Water Acquires Five US Water, Wastewater Systems.
22 October 2015 - US-based water utility operator American Water's (NYSE: AWK) Pennsylvania American Water subsidiary has closed acquisitions in Clarion, Northumberland and Butler counties, comprising five municipal and privately owned water and wastewater systems, the company said.
The total purchase price of the newly acquired systems is approximately USD 3.8m.
In Clarion County, Pennsylvania American Water acquired the assets of the Shippenville Borough Wastewater System, which provides wastewater service to approximately 600 residents, plus a number of commercial customers.
The company also purchased the Paint Township Water System, which delivers drinking water to nearly 100 residents. This transaction follows Pennsylvania American Water's acquisition last year of the wastewater assets of the Paint-Elk Joint Sewer Authority.
Pennsylvania American Water is already the provider of water and wastewater service in Clarion County to nearly 15,000 people in several adjacent communities, including Clarion, Shippenville and Strattanville Boroughs, as well as portions of Clarion, Elk, Limestone, Knox, Monroe, Piney and Farmington Townships.
In Northumberland County, the company purchased the water and wastewater assets of the McEwensville Municipal Authority, which serves approximately 400 residents in McEwensville Borough and adjoining Delaware Township.
Also, in Butler County, Pennsylvania American Water acquired the water system assets of the Abbey Woods Homeowners Association, serving nearly 130 residents in Jackson Township.
Pennsylvania American Water, a subsidiary of American Water, is the largest water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.2m people.
Founded in 1886, American Water is the largest publicly traded US water and wastewater utility company.
With headquarters in Voorhees, N.J., the company employs approximately 6,800 dedicated professionals who provide drinking water, wastewater and other related services to an estimated 15 m people in 47 states and parts of Canada.
Target: Shippenville Borough Wastewater System, Paint Township Water System, McEwensville Municipal Authority system, Abbey Woods Homeowners Association system
Buyer: Pennsylvania American Water
Deal size in USD: 3.8m
Type: Corporate Acquisition
Buyer advisor: , ,
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|Publication:||M & A Navigator|
|Date:||Oct 22, 2015|
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