BRYN MAWR, Pa.--(BUSINESS WIRE)--Aug. 12, 2022--
Essential Utilities Inc. (NYSE: WTRG) announced today that its Pennsylvania wastewater subsidiary has acquired the municipal wastewater assets of East Whiteland Township, Chester County for approximately $55 million.
East Whiteland Township’s wastewater system serves approximately 8,200 customer-equivalents including residential and commercial connections. The system is comprised of 57 miles of collection mains and 12 pump stations. The collection system accepts waste from the neighboring municipalities of Malvern Borough and Charlestown Township. Its waste passes through Aqua’s Valley Creek Trunk Sewer system to the Valley Forge Sewer Authority for treatment. Essential’s unregulated subsidiary, Aqua Resources, purchased the 9-mile Valley Creek trunk system in December 2018, which consists of gravity sewers, force mains and two pump stations, from the Tredyffrin Municipal Township Authority.
“It’s particularly pleasing to be entrusted with the wastewater assets of East Whiteland Township, a municipality for which we’ve provided water service for years,” said Essential Chairman and CEO Chris Franklin. “Our excellent water service in the East Whiteland community brought important credibility to our offer to handle wastewater service in the township. We look forward to serving both water and wastewater customers throughout the township in the future.”
Aqua Pennsylvania President Marc Lucca said, “We look forward to providing excellent service to the East Whiteland community and have already identified the need for $17 million in infrastructure improvements over the next decade including two major sewer extensions. That work will likely begin with the Planebrook and Bacton Hill roads’ sewer extensions,” said Lucca.
East Whiteland is the second acquisition completed by Essential’s Aqua companies in 2022. The company currently has six additional signed purchase agreements to acquire water and wastewater systems in three of our existing states, which have a total purchase price of more than $363 million and represent approximately 216,000 equivalent retail customers or equivalent dwelling units.
About Essential
Essential is one of the largest publicly traded water, wastewater and natural gas providers in the U.S., serving approximately 5.5 million people across 10 states under the Aqua and Peoples brands. Essential is committed to excellence in proactive infrastructure investment, regulatory expertise, operational efficiency and environmental stewardship. The company recognizes the importance water and natural gas play in everyday life and is proud to deliver safe, reliable services that contribute to the quality of life in the communities it serves. For more information, visit http://www.essential.co.
About Aqua Pennsylvania Wastewater
Aqua Pennsylvania Wastewater is a subsidiary of Aqua Pennsylvania and serves approximately 43,000 connections in 16 counties throughout the Commonwealth of Pennsylvania. Visit AquaAmerica.com for more information or follow Aqua on Facebook at facebook.com/MyAquaAmerica and on Twitter at @MyAquaAmerica.
Forward-Looking Statements
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 receive governmental approval of the transaction and to successfully close the acquisition. 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 receipt of governmental approvals; the successful closing of the acquisition; the successful integration of the customers and the facilities; effects of pandemics or other widespread health problems; the ability to successfully implement our capital program; 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 Essential Utilities’ business, please refer to Essential Utilities’ annual, quarterly and other SEC filings. Essential Utilities 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.
WTRGF
View source version on businesswire.com: https://www.businesswire.com/news/home/20220812005357/en/
Donna Alston
Communications & Marketing
M: 484.368.4720
Media@Essential.co
Brian Dingerdissen
Investor Relations
610.645.1191
BJDingerdissen@Essential.co
Source: Essential Utilities Inc.
