Aqua America, Inc. (NYSE: WTR) announced today that its Illinois
subsidiary has acquired three water systems and two wastewater systems
and its Virginia subsidiary has acquired a water system. Aqua America
has acquired a total of 15 water and wastewater systems to date in 2013.
Aqua Illinois acquired the Village of Sun River Terrace wastewater
system in November for $300,000. The system serves about 500 people in
Kankakee County, and Aqua already owns and operates the water system
that serves these customers. Aqua Illinois also acquired the water and
wastewater systems of Woodlawn Utilities for a combined price of
$204,000. The systems serve about 240 people in Ogle County. Aqua
Illinois acquired the Sheridan Grove water system for $1,000. The system
serves about 110 people in Winnebago County. Also in November, Aqua
Illinois purchased the Nordic Woods water system for $55,000. The system
serves about 500 people in Ogle County.
Aqua Virginia acquired the water system assets of the St. Tammany
Landing Property Owners Association, Inc. in December for $28,000. The
system serves 40 homes and has an additional 57 lots for future growth.
St. Tammany Landing is located near Lake Gaston, where Aqua Virginia
acquired the water system assets of Fox Run Water Co., Inc. and Moseley
& Nash Enterprises, Inc. last year.
“Aqua’s commitment to our growth-through-acquisition strategy results in
a stronger utility that can better serve our customers,” said Aqua
America Chairman and CEO Nicholas DeBenedictis. “Aqua has the necessary
technical expertise to operate water and wastewater systems effectively
and efficiently. We also have the access to capital funds that can help
us fix small-system problems and build a stronger infrastructure for
communities throughout the states we serve.”
Aqua America is one of the largest U.S.-based, publicly traded water
utilities and serves almost 3 million residents in Pennsylvania, Ohio,
North Carolina, Illinois, Texas, New Jersey, Indiana, Virginia, Florida
and Georgia. Aqua America is listed on the New York Stock Exchange under
the ticker symbol WTR. Visit aquaamerica.com
for more information.
This release contains forward-looking statements within the meaning of
The Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made based upon Aqua America’s current
expectations and assumptions with respect to, among other things, its
ability to successfully continue its growth-through-acquisition
strategy. There are important factors that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements, including its ability to successfully
integrate the acquired properties into its existing operations and
rates, its ability to recover capital expenditures in rates, its access
to capital funds, and other key factors that we have indicated that
could adversely affect our business and financial performance and that
are discussed in our Annual Report on Form 10-K for the fiscal year
ended December 31, 2012, which is on file with the Securities and
Exchange Commission. For more information regarding risks and
uncertainties associated with Aqua America’s business, please refer to
Aqua America’s annual, quarterly and other SEC filings. Aqua America is
not under any obligation — and expressly disclaims any such obligation —
to update or alter its forward-looking statements whether as a result of
new information, future events, or otherwise.
WTRF
Copyright Business Wire 2013