EPCOR USA to purchase Rio Verde Utilities

EPCOR USA, a wholly-owned subsidiary of EPCOR Utilities, has signed an agreement to purchase Rio Verde Utilities, to strengthen its footprint as regulated water and wastewater provider in Arizona.

The regulated operations of Rio Verde Utilities comprise 2,220 water and 1,876 wastewater service connections and irrigated water service for five golf courses.

Since entering the US in 2011, the acquisition of Rio Verde Utilities marks EPCOR USA’s 10th deal.

EPCOR USA president Joe Gysel said: “The Rio Verde community has benefited from the thoughtful and dedicated service delivered by Rio Verde Utilities for nearly 50 years, a long-term operational philosophy similar to our own.

“We are pleased to have been chosen by Rio Verde Utilities to continue the tradition of safe and reliable service, and we look forward to serving the Rio Verde, Tonto Verde and Trilogy communities.”

Rio Verde Utilities is situated northeast of Scottsdale and the Greater Phoenix metropolitan area. It is just ten miles from EPCOR’s existing service area in Fountain Hills that makes it a natural fit with EPCOR’s operations.

Rio Verde Utilities chairman and CEO Bruce Mooty said: “It was our founding investors’ vision and it has been our  privilege and honour, to serve the Rio Verde, Tonto Verde and Trilogy communities, from the development of the very first homes to the beautiful and growing communities that they are today.

“Many of our investors have homes in Rio Verde and Tonto Verde, and EPCOR is committed to continuing the values of delivering safe and reliable service to customers, employees and communities that our company was founded on.”

The transaction is yet to receive approval from the Arizona Corporation Commission (ACC) and is slated to conclude by the first quarter of next year.

EPCOR USA offers service to more than 360,000 people in 37 unique communities in the US.