This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Aqua America Completes Seven Acquisitions In First Six Months Of 2013

Stocks in this article: WTR

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,655.94 +299.07 1.72%
S&P 500 2,047.23 +34.34 1.71%
NASDAQ 4,729.3780 +85.0660 1.83%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs