Connecticut Water’s acquisition of Aqua Maine approved

   The state of Maine’s Public Utility Commission (PUC) has approved the acquisition of Aqua Maine, Inc., a subsidiary of Aqua America, Inc. (Bryn Mawr, PA), by Connecticut Water Service, Inc. (Clinton, CT) for $53.5 million. Under the terms of PUC’s approval, Aqua Maine, which will henceforward operate under the name “The Maine Water Company,” will not seek a rate increase for any of its divisions during 2012. Another key condition was that Aqua Maine’s customer information system and customer service policies and procedures will remain in effect after the closing of the deal. “Connecticut Water will leverage the acquisition of Aqua Maine into a solid platform that will allow us to continue expansion throughout the region and along the East Coast,” said Eric Thornburg, chairman, president, and CEO of Connecticut Water. “As we continue to grow, Connecticut Water will benefit from regulatory and weather diversification by establishing operations in other states.”