LOS ANGELES ( TheStreet) -- Southwest Water ( SWWC) reached a deal with institutional investors to be acquired for $275 million in cash, or $11 a share. Shares of Southwest Water closed Tuesday at $7.07, making the all-cash offer a 56% premium to Southwest Water shareholders. The investors are being advised by J.P. Morgan Asset Management and Water Asset Management LLC. After taking into account SouthWest Water's debt, the transaction represents a total enterprise value of about $427 million, the parties said in a press release Wednesday. -- Reported by Joseph Woelfel in New York. Follow TheStreet.com on Twitter and become a fan on Facebook.