PHOENIXVILLE, PA — Aqua America announced that its Pennsylvania subsidiary has completed the purchase of three municipal water systems previously served by the Phoenixville Borough water system, totaling 536 customer connections in Chester and Montgomery counties, for $3.5 million.
“We are excited to have the opportunity to expand our services in an area where we serve water to an adjacent municipality, which is also home to our largest surface water plant,” said Aqua Pennsylvania President Marc Lucca.
The Phoenixville acquisition is expected to be followed by the acquisition of the Cheltenham Township wastewater system in Montgomery County, which has 10,200 customer connections, and was recently approved by the Pennsylvania Public Utility Commission.
“We have worked with Phoenixville Borough in the past and have a longstanding relationship with them that will make for a smooth transition and integration. We look forward to serving these new customers with the same outstanding service that all of our other customers enjoy,” said Lucca.
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.
Source: Aqua America
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