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Aqua America Buys Pennsylvania, Virginia Water Systems

(Corrects spelling of company name in last paragraph of story published March 1.)

March 1 (Bloomberg) -- Aqua America Inc., the second-biggest U.S. water utility by market value, bought assets in Pennsylvania and Virginia in two separate transactions.

Aqua America acquired Total Environmental Solutions Inc.’s water and wastewater assets that serve 6,000 people in Pennsylvania for $11.8 million, the company said in a statement today. The purchase brings to 31 the number of counties in the state that Bryn Mawr, Pennsylvania-based Aqua America serves.

The company also bought the British Woods Water Co. in Botetcourt County, Virginia, earlier this week. The system serves about 150 people and terms weren’t disclosed.

Aqua America last week reported fourth-quarter profit that almost doubled to $66.6 million on rising sales and a tax deduction. American Water Works Co. is the largest U.S. water utility.

To contact the reporter on this story: Tina Davis in New York at tinadavis@bloomberg.net

To contact the editor responsible for this story: Tina Davis at tinadavis@bloomberg.net

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