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Slide #14. The York Water Company — Asbury Pointe Wastewater Acquisition
The York Water Company (NASDAQ:YORW)
Asbury Pointe Wastewater Acquisition
On July 31, 2012, the Company closed on the acquisition of the wastewater facilities of the Asbury Pointe Water & Sewer Company, in York County, Pennsylvania. The Company began operating the existing collection and treatment facilities on August 1, 2012. The acquisition resulted in the addition of approximately 240 wastewater customers at a purchase price of approximately $305,000. This acquisition represents York Water's first wastewater asset purchase. Three water acquisitions are expected to close during the second half of the year.
York Water is an investor-owned water utility. The primary business of Co. is to impound, purify and distribute water. Co. also owns and operates several wastewater collection systems and wastewater collection and treatment systems. Co. operates within its franchised water and wastewater territory, which covers portions of municipalities within various counties in south-central Pennsylvania. Co. is regulated by the Pennsylvania Public Utility Commission for both water and wastewater in the areas of billing, payment procedures, dispute processing, terminations, service territory, debt and equity financing and rate setting. Water service is supplied through Co.'s own distribution system.
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Strong Buy (4.00 out of 4)