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Aqua America Completes Seven Acquisitions, Adds More Than 4,700 Customer Connections in Q1

BRYN MAWR, Pa.– Aqua America, Inc. (NYSE: WTR) announced today that the company has completed seven acquisitions in Pennsylvania, Illinois, Indiana and North Carolina during the first quarter of 2016, adding 4,722 customer connections.

  • Superior Water Company, Inc. is comprised of five water systems that serve 3,868 customer connections (approximately 11,000 people) in parts of Berks, Chester and Montgomery counties in southeastern Pennsylvania
  • The Galena wastewater system serves 123 wastewater connections (approximately 400 people) near Greenville in Floyd County, Indiana.
  • The Eastwood Manor Water Company and the Nunda Utility Company in McHenry County, Illinois collectively serve 525 customer connections and approximately 1,600 people. Both systems were acquired under the provisions of the Illinois Water Systems Viability Act 98-0213, a law that promotes the acquisition of smaller, often troubled utilities by larger, more efficient utilities.
  • The water and wastewater utility assets of Golf Greenwood Gardens Improvement Association each serve 72 customer connections located in unincorporated Cook County, within Aqua Illinois’ existing North Maine Utility’s certificated area.
  • The Clear Meadow water system in the Mint Hill area of Mecklenburg County, North Carolina serves 62 customer connections.

“We welcome our new customers in these four states,” said Executive Vice President for Strategy and Corporate Development Dan Schuller. “We look forward to serving these customers and investing in the utility infrastructure necessary to provide them with the quality water and reliable water and wastewater service they deserve, and for which Aqua is known.”

Aqua America is one of the largest U.S.-based, publicly traded water utilities and serves nearly 3 million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR. Visit AquaAmerica.com for more information.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others: the company’s ability to invest capital in these systems. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: the successful integration of the customers and the facilities; the company’s ability to execute capital improvements to ensure compliance with state and federal environmental regulations;and other factors discussed in our Annual Report on Form 10-K, which is on file with the Securities and Exchange Commission. For more information regarding risks and uncertainties associated with Aqua America’s business, please refer to Aqua America’s annual, quarterly and other SEC filings. Aqua America is not under any obligation — and expressly disclaims any such obligation — to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.