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Aqua America Spends $12 Million on First-Half 2013 Acquisitions

July 1 (Bloomberg) -- Aqua America Inc., the second-largest water utility in the U.S. by market value, spent more than $12 million on seven acquisitions in the first six months of this year.

The utility purchased systems in Pennsylvania, North Carolina and Virginia, according to a statement today from Bryn Mawr, Pennsylvania-based Aqua America. The utility serves about 3 million residents in nine states.

“Our growth-through-acquisition strategy is continuing to fill in our footprint in key growth areas,” Aqua America Chief Executive Officer Nicholas DeBenedictis said in the statement.

American Water Works Co. is the largest U.S. water utility.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

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

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