American Water Works Company, Inc. has announced the completion of the purchase of water and wastewater systems located in eight states from Nexus Regulated Utilities, LLC, a subsidiary of Nexus Water Group, Inc., for a total purchase price of approximately $315 million.
American Water is the largest regulated water and wastewater utility company in the United States.
The acquisition adds approximately 47,000 customer connections within American Water’s existing footprint in Illinois, Indiana, Kentucky, Maryland, New Jersey, Pennsylvania, Tennessee and Virginia. Additionally, American Water is welcoming approximately 70 employees to its state operations from Nexus Water Group affiliates who proudly provide water and wastewater service in these areas.
“American Water is excited about this acquisition as we believe it is good for customers and another example of execution of our core growth strategy,” said John Griffith, president and CEO of American Water. “We look forward to leveraging our scale and size to deliver safe, clean, reliable and affordable water and wastewater services to these 47,000 new customer connections and to welcoming the local employees who already call these communities home.”
American Water first announced its agreement to acquire the systems on May 19. The closing follows regulatory approvals by the respective state public utility commissions, as well as customary approvals from governmental entities, all of which were obtained as of May 21.
American Water said it is committed to ensuring a seamless transition for its new customers who will receive additional information in the mail from their respective American Water state subsidiary in the coming weeks.
The information is also available now on a new, dedicated webpage on the company’s website at amwater.com under Customer Service and Billing.
New customers will be able to take advantage of American Water’s robust customer service benefits, including its online account management portal, MyWater, as well as flexible payment options and customer assistance programs for qualifying customers needing help paying their bills.
Source: American Water
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