Aqua America, a water utility, has acquired the assets of the Bluewater Key Water Company and Carrizo Water Company in Henderson County, Texas for $874,000 and the wastewater system assets of Emerald Plantation Utilities in Emerald Isle, Carteret County, North Carolina for $900,000.
The acquisition of the Bluewater/Carrizo system that serves nearly 1,150 people near Aqua America’s existing Lake Palestine operations in northeast Texas, is part of the company’s growth strategy in faster-growing states such as Texas.
The purchase of the Emerald Plantation wastewater system serving about 60 residents and a shopping center in North Carolina, where Aqua America has acquired two water systems and one wastewater system this year, is also part of the company’s expansion strategy.
Aqua North Carolina, which has bought the wastewater system at the request of the Carteret County Health Department and state regulators, plans to invest in the system’s infrastructure improvement to better serve the customers.
Aqua America chairman and CEO Nicholas DeBenedictis said that the company continues to execute its growth efforts in fast-growing states like Texas and North Carolina, where its has critical mass and can achieve economies of scale, which equates to more cost-effective service for customers.