Aqua America Completes Seven Acquisitions, Adds More Than 4,700 Customer Connections in Q1
April 20 2016 - 9:13AM
Business Wire
Aqua America, Inc. (NYSE: WTR) announced today that the company
has completed seven acquisitions in Pennsylvania, Illinois, Indiana
and North Carolina during the first quarter of 2016, adding 4,722
customer connections.
- Superior Water Company, Inc. is
comprised of five water systems that serve 3,868 customer
connections (approximately 11,000 people) in parts of Berks,
Chester and Montgomery counties in southeastern Pennsylvania
- The Galena wastewater system serves 123
wastewater connections (approximately 400 people) near Greenville
in Floyd County, Indiana.
- The Eastwood Manor Water Company and
the Nunda Utility Company in McHenry County, Illinois collectively
serve 525 customer connections and approximately 1,600 people. Both
systems were acquired under the provisions of the Illinois Water
Systems Viability Act 98-0213, a law that promotes the acquisition
of smaller, often troubled utilities by larger, more efficient
utilities.
- The water and wastewater utility assets
of Golf Greenwood Gardens Improvement Association each serve 72
customer connections located in unincorporated Cook County, within
Aqua Illinois’ existing North Maine Utility’s certificated
area.
- The Clear Meadow water system in the
Mint Hill area of Mecklenburg County, North Carolina serves 62
customer connections.
“We welcome our new customers in these four states,” said
Executive Vice President for Strategy and Corporate Development Dan
Schuller. “We look forward to serving these customers and investing
in the utility infrastructure necessary to provide them with the
quality water and reliable water and wastewater service they
deserve, and for which Aqua is known.”
Aqua America is one of the largest U.S.-based, publicly traded
water utilities and serves nearly 3 million 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. Visit AquaAmerica.com for more
information.
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, among others: the company’s ability to invest capital in
these systems. There are important factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements including: the successful
integration of the customers and the facilities; the company’s
ability to execute capital improvements to ensure compliance with
state and federal environmental regulations;and other factors
discussed in our Annual Report on Form 10-K, which is on file with
the Securities and Exchange Commission. For more information
regarding risks and uncertainties associated with Aqua America’s
business, please refer to Aqua America’s annual, quarterly and
other SEC filings. Aqua America is not under any obligation — and
expressly disclaims any such obligation — to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise.
WTRF
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version on businesswire.com: http://www.businesswire.com/news/home/20160420005870/en/
Aqua America, Inc.Donna AlstonManager, CommunicationsO:
610-645-1095M: 484-368-4720DPAlston@AquaAmerica.comorBrian
DingerdissenInvestor RelationsO:
610-645-1191BJDingerdissen@AquaAmerica.com
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