Aqua America Subsidiary Acquires Water System in North Carolina
BRYN MAWR, Pa.--(BUSINESS WIRE)--Aqua America, Inc. (NYSE: WTR) announced today that its North Carolina subsidiary has acquired the water system assets of Hubquarter Forestry, LLC, in Carteret County, North Carolina for $25,000. The water system serves approximately 125 people in the Harkers Village development on Harkers Island. At full build-out, the system will serve a total of about 200 people.
“Aqua has the technical expertise and resources necessary to serve communities like Harkers Village, and we’re positioned well to continue to grow in North Carolina — already our third-largest state.”
Harkers Village is the eighth acquisition completed by Aqua America’s regulated subsidiaries this year. Aqua will operate the system from its coastal regional office in Hampstead, North Carolina.
Aqua America Chairman and CEO Nicholas DeBenedictis said this latest purchase reinforces Aqua’s growth-through-acquisition strategy and fits nicely into Aqua’s service footprint along North Carolina’s Crystal Coast. “Aqua has the technical expertise and resources necessary to serve communities like Harkers Village, and we’re positioned well to continue to grow in North Carolina — already our third-largest state.”
Aqua America is one of the largest U.S.-based, publicly traded water utilities and serves nearly 3 million people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR. Visit AquaAmerica.com for more information.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as Aqua America’s ability to successfully continue its growth-through-acquisition strategy. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions; housing and customer growth trends; the success of growth initiatives; the successful integration of the acquisition into the Company; and other factors discussed in our Annual Report on Form 10-K, which is on file with the Securities and Exchange Commission. For more information regarding risks and uncertainties associated with Aqua America’s business, please refer to Aqua America’s annual, quarterly and other SEC filings. Aqua America is not under any obligation — and expressly disclaims any such obligation — to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.