Aqua America acquires wastewater system in Pennsylvania, US
US-based water utility company, Aqua America, announced that its subsidiary Aqua Pennsylvania has acquired a wastewater system in the Kidder Township of Carbon County in the US state of Pennsylvania, for a total consideration of $11.3m.
The company has operated the municipally owned wastewater system previous to successfully bidding for the system.
The system serves about 3,000 people.
Aqua America chairman and CEO Nicholas DeBenedictis said the wastewater system has been 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," DeBenedictis said.
The company also recently completed a $1.5m acquisition of water and wastewater systems in the in the Beech Mountain Lakes Resort Community located in portions of Butler and Dennison townships, Luzerne County, which serves about 2,300 people.
Aqua America completed the acquisition as a part of its business strategy to grow and has completed 200 acquisitions and growth ventures in the last ten years.
In the US 80% of the water and wastewater systems are controlled by the government, and buying municipally owned systems is a potential area of growth.