BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America, Inc. (NYSE: WTR) announced today that its Texas and
Illinois subsidiaries have acquired three water systems and a wastewater
system. Aqua America completed a total of 18 acquisitions in 2012.
In December, Aqua Texas, Inc. acquired the assets of Wingert Water
Systems, Inc., which is projected at build-out to serve about 3,000
residents in five subdivisions in Comal County. The purchase price was
approximately $1.89 million. Aqua Texas will operate the system through
its Wimberley office in Hays County. Also in December, Aqua Texas
acquired the assets of Royal Oaks Water System, Inc. The system serves
about 120 residents in the Royal Oaks subdivision in Kerr County, and
Aqua Texas will operate it from its Kerrville office. The purchase price
was $40,000. Both the Wingert and Royal Oaks systems are located a short
distance from other Aqua Texas systems.
In November, Aqua Illinois, Inc. acquired the wastewater collection
assets of the Village of Bourbonnais' Tri Star Estates for $455,000. The
system provides wastewater service to about 1,300 residents. Aqua
Illinois already owns and operates the water system that serves Tri Star
Estates, which is located within the company's existing Kankakee service
area. Also in November, Aqua Illinois purchased the water assets of the
Moecherville Water District in Aurora Township in Kane County for $1.4
million. The system provides water service to about 1,100 residents.
Aqua Illinois will operate the system from its Northern Illinois
Division.
"These newly acquired systems are near customers already served by Aqua
in Texas and Illinois, and they provide a natural extension of our
footprint in both states," said Aqua America Chairman and CEO Nicholas
DeBenedictis. "We look forward to providing our new customers with
quality water and reliable water and wastewater service."
DeBenedictis said that Aqua America continues to focus its utility
operations in states that have a positive regulatory and business
climate that enables the company to make the capital investments
necessary to deliver quality water and reliable service to customers,
while providing the opportunity to earn an adequate return on that
investment for shareholders.
Aqua Texas provides water and wastewater service to approximately
177,000 residents in 51 counties across Texas. Aqua Illinois provides
water and wastewater service to approximately 186,000 residents in 9
counties across Illinois.
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. Visit www.aquaamerica.com
for more information.
This release contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995 that address, among
other things, planned improvements to the acquired systems and the
company's 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: the
risk that the acquired company's business will not be successfully
integrated, the ability of the company to complete planned capital
improvements, the ability to earn an adequate return of the capital
investments, and other key factors that we have indicated could
adversely affect our business and financial performance 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. 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.
Gretchen Toner
Manager, Strategic
Communications
610-645-1175
484-368-4816 (cell)
gmtoner@aquaamerica.com
Source: Aqua America, Inc.
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