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Stock Market & Financial Investment News

News Breaks
May 16, 2014
14:02 EDTWTRAqua America subsidiary buys McHenry Shores Water System
Aqua America announced that its Illinois subsidiary has purchased the assets of the McHenry Shores Water Company in the City of McHenry, Illinois, for $427,000. The McHenry Shores system serves approximately 1,600 people and will be operated out of Aqua Illinois’ Northern Division office, which operates out of Wauconda. Aqua serves 175,000 people in 13 counties throughout Illinois. It is the seventh acquisition this year by an Aqua America subsidiary. Aqua plans to make about $1.3M of upgrades within the first five years including the replacement of water mains, valves, service lines and fire hydrants; refurbishing the 100,000-gallon elevated storage tank; constructing an iron removal plant to improve water quality; buying an on-site emergency power generator to ensure reliable service; the installation of supervisory control and data acquisition system to enable remote monitoring to identify any system failures in a timely manner; water meter upgrades and improving security.
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September 8, 2014
17:39 EDTWTRAqua America unit acquires assets of Caroline Water Company
Aqua America announced that its Virginia subsidiary has purchased the water system assets of the Caroline Water Company in Caroline County. The system serves about 3,000 people in the Lake Caroline community in Ruther Glen, Virginia. The Caroline Water Company is Aqua’s ninth regulated utility acquisition so far this year. Aqua paid $1.1M for the water system and plans to spend approximately $1.9M over the next 5 years for capital improvements to the system including major investments in the water treatment plant. Lake Caroline is Aqua’s second surface water plant in Virginia. The plant has been offline since April 2009, and Aqua will install a new water treatment plant and a bulk water storage tank to bring the system into compliance. Currently, water is purchased through an interconnection with the county water system. Lake Caroline is about one mile south of Aqua’s Lake Land’Or water and wastewater systems and provides a cost-effective tuck-in opportunity.

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