United Water to sell Connecticut operations to Aquarion Water

United Water has signed a definitive agreement with Aquarion Water Company to sell its regulated water operations in the US state of Connecticut.

The transaction, valued at $38m, is scheduled to close in the third quarter of this year.

United Water Connecticut, through 34 different ground water sources of supply, provides domestic water services to about 24,000 residents in the Connecticut towns of Bethel, Brookfield, Newtown, New Milford, and Woodbury.

Aquarion president and CEO Charles Firlotte said the company could serve the residents of the five towns with safe, high quality water.

United Water Connecticut has over 110 miles of transmission and distribution water mains, and maintains nine above-ground storage facilities.

The sale of United Water Connecticut is subject to regulatory approval of the Connecticut Public Utilities Regulatory Authority.

In 2011, Aquarion acquired and integrated about 27 new water systems in the state to provide water services to over 10,000 customers.

As a public water supply firm, Aquarion serves about 590,000 people in 42 cities and towns throughout Connecticut, as well as it serves customers in the states of Massachusetts and New Hampshire.

The transaction and other pending acquisitions will enable Aquarion to deliver water services to about 610,000 people in 47 cities and towns in Connecticut.

Image: United Water Connecticut provides water services for 24,000 residents in several towns in the state. Photo: United Water.