21.8.2007: Meldung: Aqua America, Inc.: Subsidiary Acquires Ohio Water System
Monday August 20, 8:08 am ET
BRYN MAWR, Pa.-- Aqua America, Inc. today announced that its Aqua Ohio, Inc. (Aqua) subsidiary acquired the Auburn Lakes water system, which serves approximately 1,200 people in Geauga County for $400,000.
Aqua acquired the system from the Auburn Lakes Limited Partnership, which represents owners of the three condominium associations served by the water system.
"We are pleased to have expanded our footprint into Geauga County and are excited about the potential opportunity to further expand our service area," said Aqua America Chairman and CEO Nicholas DeBenedictis.
"Our growth-through-acquisition strategy continues to work as we keep expanding our operations with tuck-in acquisitions, such as Auburn Lakes, as well as the acquisition of larger properties like the Aquarion Water Company of Sea Cliff in Long Island that closed in April," said DeBenedictis. Auburn Lakes is the 14th system acquired by Aqua America so far this year.
Aqua Ohio is the state"s largest investor-owned water utility and serves nearly 280,000 people in 54 communities, including more than 100,000 people in Lake and Ashtabula counties. Aqua America is a publicly traded water and wastewater utility holding company, with operating subsidiaries serving approximately 2.8 million people in Pennsylvania, Texas, New York, Ohio, North Carolina, Illinois, Florida, New Jersey, Indiana, Virginia, Maine, Missouri, and South Carolina. Aqua America is listed on both the New York and Philadelphia Stock Exchanges under the ticker symbol WTR.
Aqua America, Inc.
Senior Communications Specialist
Source: Aqua America, Inc.