Aqua America's Pennsylvania Subsidiary Buys Two Water Systems
Aqua America, Inc., announced today that its Pennsylvania subsidiary, Aqua Pennsylvania, Inc., (Aqua) recently completed two water utility acquisitions.
Aqua purchased the water system assets at the Links of Gettysburg, a golf community that will serve approximately 1,200 residents in Mount Joy Township, Adams County, in a transaction valued at $600,000. This is the company's first venture into Adams County--one of the faster-growing counties in Pennsylvania. Included among the purchased assets are the community's existing water treatment plant and distribution facilities. As the community is built out, Aqua will acquire additional facilities and will construct a new water storage tank and install water meters. The system will be operated out of the company's Roaring Creek office.
Aqua also bought the water system assets of Christian Springs Water Co., that serves approximately 160 residents in Moore Township, Northampton County for $15,000. Aqua has plans to invest $40,000 for system improvements including water meters and an emergency generator. The system will be operated out of the company's White Haven office.
The purchase of the water systems at the Links of Gettysburg and Christian Springs bring to 14 the number of acquisitions completed by Aqua America's Pennsylvania subsidiary this year. Collectively, Aqua America subsidiaries have completed more than 20 growth ventures in 2004.
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