Aqua America subsidiary acquires wastewater system in Pennsylvania
BRYN MAWR, Pa. – Aqua America’s Pennsylvania subsidiary, Aqua Pennsylvania, Inc., has acquired the wastewater system assets of Kidder Township, which serves approximately 3,000 people for $11.3 million.
Aqua has operated the former municipally owned system since 2006.
The acquisition is the latest for the company, which has completed more than 200 acquisitions and growth ventures over the last decade. It comes on the heels of the company''s recent $1.5 million acquisition of the water and wastewater systems which serve approximately 2,300 people in the Beech Mountain Lakes Resort Community located in portions of Butler and Dennison townships, Luzerne County.
"After operating and managing the Kidder Township wastewater system for more than five years, we were certainly pleased to learn that we won the bid to acquire the assets," said Aqua America Chairman and CEO Nicholas DeBenedictis. "This system is relatively new with much of it constructed in 2002. The five years we''ve spent managing its operations and getting to know the community will lead to a seamless transition for customers and an assurance that their wastewater system will continue to be operated and managed by professionals."