Aqua America acquires American Water’s regulated Texas business

Aqua America, Inc. (Bryn Mawr, PA) has completed the purchase of the regulated water and wastewater operations of American Water Works Company, Inc. (Voorhees, NJ) in the state of Texas for approximately $6 million. The assets acquired consist of 51 water systems and five wastewater systems serving 4,200 water customers and 1,100 wastewater customers, respectively. The systems serve parts of the Brazoria, Harris, Liberty, Matagorda, and Montgomery counties in the greater Houston area and will be managed out of Aqua Texas’s Houston office. Noting that Texas is one of the fastest-growing states in the nation, Nicholas DeBenedictis, Aqua America’s chairman and CEO, commented, “Texas is also one of our areas of operations that offers opportunities for the water-energy nexus that could have a positive impact on the future of our operations.”