Aqua America Buys Assets in Virginia and Pennsylvania
On Friday, water utility Aqua America announced that its Pennsylvania and Virginia subsidiaries, respectively, have acquired water and wastewater assets in two unrelated transactions.
In the first transaction, Aqua's Virginian subsidiary bought the British Woods Water Company in Botetourt County, Va., for an undisclosed sum. (In a press release, Aqua unfortunately misspelled the county as "Botetcourt.")
In the second transaction, Aqua Pennsylvania bought the assets of Total Environmental Solutions, serving the Treasure Lake community of Sandy Township in Clearfield County, for $11.8 million. Aqua Pennsylvania now services 31 of Pennsylvania's 67 counties as a result of this acquisition.
The company did not disclose the amount of revenues it expects to generate from the purchases but did note that together, these acquisitions add about 6,150 people to Aqua America's customer list.
Shares of the utility company declined 0.2% in Friday trading, closing at $29.08.
The article Aqua America Buys Assets in Virginia and Pennsylvania originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool recommends Aqua America. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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