Aqua America Acquires Wastewater System in Pennsylvania Purchase

Aqua America Inc. (WTR), a water utility that operates in 10 U.S. states, acquired the wastewater system assets of Kidder Township though its Pennysylvania subsidiary for $11.3 million.

The Bryn Mawr, Pennsylvania-based company said the deal, part of a “growth-through-acquisition strategy,” demonstrates that “with 80 percent of the water and wastewater systems still in government control, the purchase of municipally owned systems such as Kidder Township is an area of great growth potential.”

Aqua America serves almost 3 million customers from Texas to New Yersey. The utility in July reported record earnings for the second quarter on an 11 percent rise in revenue. The shares have advanced 11 percent this year compared with a 14 percent gain in the 18-member Bloomberg World Water Index.

To contact the reporter on this story: Randall Hackley in Zurich at rhackley@bloomberg.net

To contact the editor responsible for this story: Randall Hackley at rhackley@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.