Connecticut Water Service completes acquisition of Heritage Village Water
Connecticut Water Service (CTWS) has completed the acquisition of the Heritage Village Water Company (HVWC) in a deal valued at $20.7m.
HVWC serves about 4,700 water customers in the Connecticut communities of Middlebury, Oxford and Southbury and about 3,000 wastewater customers in Southbury, Connecticut.
The company owns and operates a wastewater system that is regulated by the Connecticut Public Utilities Regulatory Authority (PURA).
CTWS chairman, president and CEO Eric Thornburg said: “Customers will benefit by being part of larger, regional company, which has a size and presence that provides for operational efficiencies, purchasing power and other economies of scale.”
“CTWS subsidiaries, including The Connecticut Water (Connecticut Water) and The Maine Water Company (Maine Water) have long histories of delivering world-class satisfaction to customers and being good stewards of the natural resources entrusted to us and we are eager to demonstrate our commitment to HVWC customers.”
The acquisition was approved by PURA on 5 December last year.
Following the acquisition, HVWC’s existing name and local office will be retained, and its employees will continue their employment under the ownership of CTWS.
As part of CTWS, the company’s services to customers will now include a website, online bill payment, and timely emergency notification through phone and e-mail.
In October last year, CTWS announced an agreement to acquire Avon Water Company that serves 4,800 customers in the towns of Avon, Farmington, and Simsbury in Connecticut.