Aqua America acquires Virginia water utilities

Aqua America has acquired four water systems and a wastewater system in Virginia, US.

The company acquired the water and wastewater system assets of Presidential Service Company, which serves around 1,000 people in the Presidential Lakes in King George County. It paid $150,000 for the water system and plans to spend approximately $200,000 in capital improvements over the next couple of years.

Aqua America paid only $1 for the wastewater system, which is under a state consent order because it doesn’t meet environmental regulations. The company will build a new wastewater treatment plant by investing nearly $1.4m to improve service and bring the system into environmental compliance.

The company also paid $25,000 for the water system assets of the Stagecoach Hills public water system, and plans to invest another $15,000 to upgrade the system. The system serves around 80 people in Fluvanna County.

Aqua America also recently acquired the assets of two water systems from Botetourt Forest Water for $82,500. The systems serve around 400 people in Blue Ridge, Botetourt County.

Aqua America Chairman and CEO Nicholas DeBenedictis said that the company has invested more than $70m on water and wastewater system improvements in Virginia since 2003.

"Since Aqua’s initial entry into Virginia in 2003, we have acquired 63 additional water and wastewater systems as a result of multiple acquisitions and growth ventures. We continue to focus our efforts on areas where we can grow and invest in the water and wastewater infrastructure our customers need and deserve," DeBenedictis added.