Aqua America to Acquire New York Water Service Corporation
Aqua America, Inc. (WTR) announced that it has reached an agreement with Utilities & Industries Corp., LLC to acquire New York Water Service Corporation in a transaction valued at $51 million. Aqua America will pay $28 million in cash to acquire the stock of the company and assume $23 million in debt.
New York Water Service provides public water to approximately 135,000 residents in the well established, populated area of southeastern Nassau County, Long Island, New York in the communities of Merrick, North Merrick, Bellmore, North Bellmore, Wantagh, Seaford, and portions of Levittown and Massapequa. [ more ]