United Water, Inc. announced that it has reached an agreement to acquire Aquarion Water Company of New York for $28 million from Aquarion, a division of the Kelda Group. The transaction is subject to the approval of the New York State Public Service Commission.
“The addition of Aquarion Water Company of New York to our portfolio is in line with our strategy to grow by acquiring companies that are adjacent to our existing operations,” said United Water CEO Tony Harding.
United Water currently serves approximately 150,000 people in southern Westchester. The company provides service to the city of New Rochelle, the towns of Eastchester and Greenburgh and the villages of Bronxville, Tuckahoe, North Pelham, Pelham Manor, Ardsley, Hastings on Hudson and Dobbs Ferry. Aquarion Water Company of New York serves about 50,000 people in Port Chester, Rye and Rye Brook in Westchester County.
United Water provides water and wastewater services to seven million people in 20 states. The company is a subsidiary of the Suez Environment division of the Suez Group, which supplies sustainable solutions for essential environmental services (water, sanitation and waste services) to industrial and individual customers around the world.
Harding explained that United Water is also pursuing growth through public-private partnerships with municipalities. The company currently operates 65 municipal water and wastewater operations through contract agreements.
“We are excited about expanding our presence in Westchester and becoming active members of the Port Chester, Rye and Rye Brook communities,” said Harding.
"We are pleased with this development, because United Water is a quality company and a well-established and well-respected leader in the drinking water industry,” said Aquarion Water Company President and Chief Executive Officer Charles V. Firlotte “We are looking forward to working closely with them to ensure a smooth transition."