Water Utilities M&A » By The Online Investor Staff, updated Tue., Apr. 16, 1:18 PM
Recent mergers and acquisitions in the Water Utilities M&A category.
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Slide #10. Connecticut Water Service, Inc. — Biddeford and Saco Water Company
Acquirer:
Connecticut Water Service, Inc. (CTWS)
Acquiree:
Biddeford and Saco Water Company
Details:
Connecticut Water Service, Inc. announced that it has completed the acquisition of the Biddeford and Saco Water Company (BSWC). Shareholders of BSWC exchanged their stock for CTWS stock in a transaction with an enterprise value of $19.8 million. BSWC serves nearly 15,500 customers, or a population of 50,000 people, in 4 communities in the state of Maine.
Connecticut Water Service is a non-operating holding company. Co. carries out its water operations within its regulated water companies, The Connecticut Water Company, The Heritage Village Water Company, The Avon Water Company and The Maine Water Company. Co.'s segments are: Water Operations, which includes its regulated water operations to supply public drinking water and provide wastewater services to its customers; Real Estate Transactions, which involves the sale or donation for income tax benefits of Co.'s real estate holdings; and Services and Rentals, which provides contracted services to water utilities and other clients and also leases certain of its properties to third parties.
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