Aqua Pennsylvania Closes Purchase of Limerick Wastewater System
Aqua America Inc. (NYSE: WTR) announced today its Pennsylvania subsidiary acquired the 5,400-connection wastewater assets of
Limerick Township for $75 million, marking Aqua Pennsylvania’s first acquisition to close under Act 12, fair market valuation
legislation.
Act 12 encourages consolidation in a fragmented water and wastewater industry, allowing resources to be shared among a larger
service area, ultimately benefitting utility customers, according to Aqua America Chairman and CEO Christopher Franklin.
“Aqua is thrilled to welcome our new Limerick customers and employees,” said Franklin. “This purchase was a collaborative effort
that will allow us to bring benefits to the Limerick community by leveraging expertise in compliance, large-scale purchasing power
and efficiencies in a larger, regional operation.”
Aqua Pennsylvania President Marc Lucca says his team will bring a sharp environmental focus to the service they provide for
Limerick’s residents.
“It’s imperative we return treated wastewater back to our rivers and streams cleaner than when we first take it out,” Lucca
said. “I welcome our new employees who’ve done a great job ensuring the Limerick system is compliant and well maintained, and look
forward to serving our new customers.”
Along with Limerick, Aqua has several fair market value asset purchase agreements in place, including Cheltenham, East
Bradford and New Garden townships in Pennsylvania, and the Village of Manteno in Illinois, which
closed July 5. When it completes these acquisitions, the company will welcome approximately 23,000 new customer connections to the
Aqua family.
Aqua America is one of the largest U.S.-based, publicly traded water utilities and serves nearly 3 million people in
Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua America is listed on the New York Stock
Exchange under the ticker symbol WTR. Visit AquaAmerica.com for more information.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995
including, among others: the company’s ability to acquire additional municipally owned water and wastewater systems. There are
important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking
statements including: general economic business conditions, the successful integration of the customers and the facilities, the
success of the company’s growth efforts including its ability to utilize Act 12, and other factors discussed in our Annual Report
on Form 10-K, 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
Aqua America Inc.
Brian Dingerdissen
Investor Relations
O: 610-645-1191
BJDingerdissen@AquaAmerica.com
or
Donna Alston
O: 610-645-1095
M: 484-368-4720
DPAlston@AquaAmerica.com
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