Indiana American Water, a subsidiary of American Water, has acquired Charlestown Water, a municipal water utility located in southern Indiana.
Image: Indiana American Water has acquired Charlestown Water, a municipal water utility located in southern Indiana. Photo: Courtesy of American Water.
Indiana American Water said that the present acquisition adds approximately 2,900 customers to the company’s existing customer base representing a population of more than 7,800 residents.
The acquisition of the Charlestown system for approximately $13.4m was approved by the Indiana Utility Regulatory Commission in 2018. The transaction was completed on 5 March 2019, by Indiana American Water and the City of Charlestown.
Indiana American Water president Deborah Dewey said: “The acquisition of this system will provide Charlestown customers with access to operations and capital management water professionals and a number of customer service options and payment methods.
“Indiana American Water already provides water to several nearby communities, so this is a good fit for us and a continuation of our efforts to help provide cost-effective solutions for communities all across Indiana.”
The company said that it is planning to incorporate the Charlestown system into its Southern Indiana district, which is currently serving 100,000 residents approximately.
Charlestown Mayor Bob Hall: “Our community was facing tremendous capital costs to address water quality and local infrastructure needs. This acquisition will help us to address these concerns at a lower overall cost than we would otherwise be able to do and also provide funds to help us address other pressing priorities in our community.
“We appreciate the experience, knowledge and resources that Indiana American Water brings to the table and look forward to working with them.”
In December 2018, Indiana American Water acquired Sheridan Water & Wastewater Systems in Central Indiana.
The company acquired the Sheridan water and wastewater systems for approximately $10.75m and was approved by the Indiana Utility Regulatory Commission in September and closed by Indiana American Water and the Town of Sheridan on 17 December, 2018.
The Sheridan system was expected to be incorporated into the company’s Kokomo district, which currently serves approximately 60,000 residents.
Indiana American Water said that the transaction added more than 2,500 water and wastewater customers to the company’s existing customer base.