October 23, 2018 by

Aqua America to acquire Peoples natural gas entities

Aqua America Inc., a regulated water and wastewater utility, has announced it will acquire Peoples in an all-cash transaction that reflects an enterprise value of $4.27 billion, which includes the assumption of approximately $1.3 billion of debt. Peoples consists of Peoples Natural Gas Company LLC, Peoples Gas Company LLC and Delta Natural Gas Company Inc.

The multi-platform entity brings together the second-largest U.S. water utility and fifth-largest U.S. stand-alone natural gas local distribution company (based on customers), and will serve 1.74 million customer connections, which represent approximately 5 million people.

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