Connecticut Water Completes Purchase of Maine Utility to Expand

Connecticut Water Service Inc. (CTWS) closed on its $19.8 million acquisition of Biddeford and Saco Water Co. in Maine to raise to almost 400,000 people that the utility provides water to in the U.S. Northeast.

The Clinton, Connecticut-based company is now one of the 10 largest publicly traded water utilities in the U.S., it said in a statement. The shares have risen 16 percent this year compared with a 25 percent gain by the 7-member Bloomberg Americas Water Index.

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

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

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