Aqua America Goes on an Acquisition Spree
The second largest water utility firm in the United States in terms of market value, Aqua America Inc had disbursed more than US$12 million with seven different acquisitions for the first half of 2013.
The fim had purchased utility systems located in North Carolina, Pennsylvania and Virginia. The purchases were confirmed by Bryn Mawr, through a statement from the Pennsylvania offices of Aqua America. The current client base of the firm is six million residents spread over nine states in the country.
According to Aqua America's CEO Nicholas DeBenedictis, through a statement, "Our growth through acquisition strategy is continuing to fill our footprint in key growth areas."
Amongst the acquisitions are the water and wastewater systems of Total Environmental Solutions for US$11.8 million. It also acquired the water distribution system assets that cover Bucks County Water and Sewer Authority for US$399,000. It also acquired water system assets of North State Utilities and Knob Creek.