Connecticut Water to Acquire Aqua America’s Maine Operations

Aqua America has made an agreement with Connecticut Water Services to sell its operations in Maine, US, for $53.5m.

The assets include 11 water systems, which serve 16,000 customers in 17 communities throughout Maine.

Aqua America chairman and CEO Nicholas DeBenedictis said that the acquisition will allow Connecticut Water to expand in New England and enhance its environmental compliance.

The transaction will be completed in the first quarter of 2012 and will require approval from the Maine Public Utilities Commission.