Natural Systems Utilities (NSU) announced the successful completion of the acquisition of Applied Water Management (AWM) from AWM's parent company, American Water. Applied Water Management, also based in Hillsborough, N.J., has 77 employees and has offices in New Jersey, Pennsylvania and Massachusetts. NSU will assume all AWM contracts and business operations. AWM is a recognized leader in water resource management. Combined, the company provides design, build, operations and engineering services to over 150 systems in New Jersey, New York, Pennsylvania, Connecticut, Massachusetts, Rhode Island and Minnesota. The company will be known as Natural Systems Utilities and will operate under both the NSU and AWM names. NSU also announced the closing of a Series C financing lead by XPV Capital with co-investor American Refining and Biochemical Inc. Existing investors also participated. Terms of the transaction and financing were not disclosed.
Ed Clerico, NSU CEO, reports, "This acquisition capitalizes on the current unique market position of NSU and AWM. NSU now represents the largest operating base of decentralized water and wastewater utility assets in the U.S. AWM's clients will benefit from NSU's expertise and innovations in operations, management and advanced wastewater systems and related technologies."
Dominic Kulik, chairman of NSU, said, "NSU has a proud history of providing environmentally friendly water resource management services to a range of municipal, commercial, residential, institutional and industrial customers across America. The deep pool of talent and sector expertise of the AWM professionals will allow NSU to expand our services to a market with rapidly increasing needs for improved water management services. Our unique design-build-operate-finance model provides innovative water and wastewater solutions more quickly and at lower life cycle costs."
Source: NSU
