Aqua America Subsidiary Purchases Pennsylvania Water and Wastewater System
Aqua America, Inc.’s Pennsylvania subsidiary, Aqua Pennsylvania, Inc., has purchased the water and wastewater assets of Thornhurst Country Club Estates Property Owners Association for $180,000.
Each system serves 300 customer accounts, adding approximately 900 residents to Aqua's customer base in Lehigh Township, Lackawanna County.
"We are pleased to add Thornhurst to our growing customer base in the northeastern region of Pennsylvania. Through acquisitions such as this, we can provide enhanced water and wastewater service to residents by integrating these types of stand-alone systems into our operating divisions," said Aqua America's Chairman and CEO Nicholas DeBenedictis.
This is the twelfth acquisition Aqua's Pennsylvania subsidiary has completed this year. Collectively, Aqua America subsidiaries have completed 19 growth ventures--including 18 acquisitions--in 2004.