BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America (NYSE:WTR) announced today that its subsidiaries in
Pennsylvania, New Jersey and Virginia have completed the acquisition of
water systems in their states.
Aqua Pennsylvania purchased the assets of the Mt. Jewett Borough water
system, which serves approximately 1,500 people in Hamlin Township,
Pennsylvania, for $1.13 million, marking its entry into McKean County.
The majority of the service area includes residential homes, along with
some commercial and business accounts.
Aqua New Jersey purchased the assets of the Seaview Harbor water system
in Egg Harbor Township for $225,000, marking its entry into Atlantic
County. The system serves approximately 300 residents.
Aqua Virginia acquired the assets of the Venter Heights public water
system for $85,000. The system serves 105 homes and 32 apartments in
King William County, Virginia.
Last week, Aqua America's Illinois subsidiary announced the purchase of
the municipally owned North Maine Utilities (NMU) water and wastewater
system from the Village of Glenview, Illinois for $22 million. The
system serves more than 44,000 people through 4,700 metered water
connections and nearly 2,500 wastewater connections.
"We are excited about our latest results of our
growth-through-acquisition strategy," said Aqua America Chairman and CEO
Nicholas DeBenedictis. "With these acquisitions, we are in the position
to exceed our 2014 performance in customer growth, the number of total
acquisitions and the number of municipal acquisitions for the year.
Further, we are particularly pleased to expand our service territory
into two new counties — one each in Pennsylvania and New Jersey."
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 exceed 2014 performance in customer
growth, the number of total acquisitions and the number of municipal
acquisitions for the year. There are important factors that could cause
actual results to differ materially from those expressed or implied by
such forward-looking statements including: general economic business
conditions, the successful integration of the customers and the
facility, the ability to close the additional acquisitions on a timely
basis, 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
Aqua America
Donna Alston
O: 610.645.1095
M: 484.368.4720
DPAlston@AquaAmerica.com
Source: Aqua America
News Provided by Acquire Media
