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Aqua America Completes Three Acquisitions in 2Q

BRYN MAWR, Pa.– Aqua America, Inc. (NYSE: WTR) announced today that its subsidiaries completed three acquisitions during the second quarter of 2016,

  • Crystal Clear Water Company, Inc. serves 293 customer connections in unincorporated McHenry County, Illinois, adjacent to the City of Crystal Lake. The system was acquired under the provisions of the Illinois Water Systems Viability Act 98-0213, a law that promotes the acquisition of smaller, troubled utilities by larger, more efficient utilities.
  • Assets acquired from Byram Homeowners Association Water Company, Inc. serve 151 customer connections in a portion of Byram Township, Sussex County, New Jersey.
  • Twin Cedars public water system serves 30 customer connections in Caroline County, Virginia.

In total, Aqua America’s subsidiaries have completed 10 acquisitions with a total of 5,395 customer connections this year.

“Our ongoing role in the further consolidation of the U.S. water and wastewater market and the role we continue to play in helping to solve the nation’s aging infrastructure issues are exciting,” said Christopher Franklin, Aqua America’s president and CEO. “We are confident that our work with investor-owned and municipal utilities will accelerate as the need for infrastructure replacement and expansion continues to grow.”

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 role in the need for infrastructure replacement and expansion. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: the company’s ability to work with local officials and residents to improve facilities to provide better service and increased reliability; 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.