BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America, Inc. (NYSE: WTR) announced today that its Pennsylvania
subsidiary, Aqua Pennsylvania, Inc. (Aqua), has acquired the wastewater
system assets of Kidder Township, which serves approximately 3,000
people for $11.3 million. Aqua has operated the former municipally owned
system since 2006.
The acquisition is the latest for the company, which has completed more
than 200 acquisitions and growth ventures over the last decade. It comes
on the heels of the company's recent $1.5 million acquisition of the
water and wastewater systems which serve approximately 2,300 people in
the Beech Mountain Lakes Resort Community located in portions of Butler
and Dennison townships, Luzerne County.
"After operating and managing the Kidder Township wastewater system for
more than five years, we were certainly pleased to learn that we won the
bid to acquire the assets," said Aqua America Chairman and CEO Nicholas
DeBenedictis. "This system is relatively new with much of it constructed
in 2002. The five years we've spent managing its operations and getting
to know the community will lead to a seamless transition for customers
and an assurance that their wastewater system will continue to be
operated and managed by professionals."
Aqua America continues with its growth-through-acquisition strategy as
part of its successful business growth model. With 80 percent of the
water and wastewater systems still in government control, the purchase
of municipally owned systems such as Kidder Township is an area of great
growth potential.
Aqua America is one of the largest U.S.-based publicly-traded water
utilities serving almost 3 million residents in Pennsylvania, Ohio,
Illinois, Texas, New Jersey, Indiana, Virginia, Florida, North Carolina,
and Georgia. Aqua America is listed on the New York Stock Exchange under
the ticker symbol WTR.
This release contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made based upon Aqua America's current
expectations and assumptions with respect to, among other things, its
ability acquire municipally owned systems and to successfully continue
its growth through acquisition strategy. There are important factors
that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements, including
opposition to transactions by local agencies and municipalities, and
other key factors that we have indicated that could adversely affect our
business and financial performance and that are discussed in our Annual
Report on Form 10-K for the fiscal year ended December 31, 2011, which
is on file with the Securities and Exchange Commission. For further
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, Inc.
Donna Alston, 610-645-1095
Director,
Communications
dpalston@aquaamerica.com
or
Gretchen
Toner, 610-645-1175
Manager, Strategic Communications
gmtoner@aquaamerica.com
Source: Aqua America, Inc.
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