Aqua America’s Pennsylvania subsidiary has completed the purchase of three municipal water systems – East Pikeland, Schuylkill, and Upper Providence townships – previously served by the Phoenixville Borough water system, totaling 535 customer connections in Chester and Montgomery counties, for $3.5 million.
“We are excited to expand our services in an area where we serve water to an adjacent municipality, which is also home to our largest surface water plant,” said Aqua Pennsylvania President Marc Lucca.
The Phoenixville acquisition is expected to be followed by the acquisition of the Cheltenham Township wastewater system in Montgomery County, which has 10,200 customer connections, and was recently approved by the Pennsylvania Public Utility Commission.
“We have worked with Phoenixville Borough in the past and have a longstanding relationship with them that will make for a smooth transition and integration,” said Lucca. “We look forward to serving these new customers with the same outstanding service that all of our other customers enjoy.”
Aqua America is one of the largest U.S.-based, publicly traded water utilities and serves nearly three 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.
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