Oregon-based NW Natural Water, a subsidiary of NW Natural has signed agreements to acquire two water utilities based in Washington State for undisclosed amounts.
Both are located on Whidbey Island near Seattle in Puget Sound. Lehman Enterprises, Inc. serves about 900 customers and Sea View Water LLC serves just under 200 customers.
The assets and operations of Lehman and Sea View will be combined under a newly-formed subsidiary of NW Natural Water.
The transactions are subject to certain conditions, including approval by the Washington Transportation and Utilities Commission, and are expected to close in 2018.
The planned acquisitions further the company’s strategy to expand into the regulated water utility sector.
In addition to Washington, NW Natural Water has pending water utility acquisitions in Oregon and Idaho.
Source: Company Press Release.