Aqua America Subsidiary Acquires North Carolina Water Systems

Aug. 31 (Bloomberg) -- Aqua America Inc., a water and wastewater service provider, said today that its North Carolina unit purchased the water system assets of Fox Run Water Co. and Moseley-Nash Enterprises, its second acquisition this month.

The $175,000 deal for 12 water systems by the Bryn Mawr, Pennsylvania-based company, which has 3 million customers in 10 U.S. states from Texas to New Jersey, comes three weeks after adding 26 water systems for $400,000 in the Lake Gaston area of southern Virgnia near the North Carolina border.

Aqua America reported record second-quarter earnings last month, buoyed by an 11 percent increase in revenue and an Ohio acquisition. The shares have risen 13 percent the past year.

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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