This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Aqua America Completes Seven Acquisitions In First Six Months Of 2013

Aqua America Inc. (NYSE: WTR) reported today that it completed the purchase of seven water and wastewater utility systems in the first six months of the year, including three in Pennsylvania, three in North Carolina and one in Virginia.

Aqua Pennsylvania acquired both the water and wastewater system assets of Total Environmental Solutions, Inc., (TESI), which serve approximately 6,000 people in the Treasure Lake community of Sandy Township, Clearfield County for $11.8 million. Aqua Pennsylvania also acquired the water distribution system assets that serve 500 people in the Concord Park section of Bensalem Township from Bucks County Water and Sewer Authority for $399,000. The Concord Park distribution system is surrounded by Aqua Pennsylvania’s service territory.

The company’s North Carolina subsidiary recently acquired the water system assets of the Shaw Hills Subdivision in Wake County, which serves about 80 residents. The utility also purchased the wastewater assets of North State Utilities, which consists of three subdivisions with a total of the 117 connections in Wake County. Finally, Aqua North Carolina purchased the water system assets of Knob Creek, a subdivision with about 600 residents in the town of Pisgah Forest, Transylvania County for $40,000. All three systems were designated as “troubled” by state regulators. Aqua expects to invest approximately $500,000 in their restoration.

Aqua America’s Virginia subsidiary purchased the British Woods Water Company in Botetcourt County, Virginia. The system provides water to about 150 people directly across the street from Aqua Virginia’s Appletree-Mountainview system.

“The acquisitions we’ve completed in the first half of the year indicate that our growth-through-acquisition strategy is continuing to fill in our footprint in key growth areas,” said Aqua America Chairman and CEO Nicholas DeBenedictis. “The TESI acquisition in Pennsylvania and the Northwood Utilities acquisition in North Carolina are particularly rewarding as we have previous history with both companies,which led them to their decision to allow us to purchase their assets,” explained DeBenedictis. “Aqua Pennsylvania purchased TESI’s Beech Mountain water and wastewater systems in May 2012, and Aqua North Carolina had provided sewer and billing services to other subdivisions owned by North State Utilities. In both cases, we see our most recent acquisitions in these areas as an affirmation of reliability and quality of service we provide to our customers.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.57 -0.18%
FB $118.53 0.81%
GOOG $700.59 1.10%
TSLA $242.01 0.52%
YHOO $36.57 -0.08%


Chart of I:DJI
DOW 17,889.79 +116.15 0.65%
S&P 500 2,080.42 +15.12 0.73%
NASDAQ 4,813.2320 +37.8740 0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs