American Water Completes Acquisition of Pivotal Home Solutions
June 04 2018 - 11:53AM
Business Wire
American Water Works Company, Inc. (NYSE: AWK), the largest
publicly traded U.S. water and wastewater utility company, today
announced that it has completed the acquisition of Pivotal Home
Solutions from Southern Company Gas, a subsidiary of Southern
Company, for $363.7 million in cash, including estimated working
capital.
Pivotal Home Solutions, a home warranty business operating in 18
states with 1.2 million customer contracts, joins American Water’s
Homeowner Services Group organization. Pivotal will maintain its
name and operations in Naperville, Ill., and continue offering
protection for a wide variety of home appliances, heating and
cooling systems, and service lines inside and around a home.
“We are excited to welcome the Pivotal Home Solutions team to
our organization,” said Susan Story, president and CEO of American
Water. “Together, we’ll leverage the commitment that both teams
demonstrate in providing even more peace of mind and unmatched
service to home warranty customers across the U.S.”
American Water’s Homeowner Services Group operates in 43 states
and Washington, D.C., and currently services more than 1.8 million
contracts, not including those served by Pivotal Home Solutions.
The Homeowner Services Group has been providing protection programs
for more than 15 years, has an A+ Rating from the Better Business
Bureau and holds a 97 percent customer satisfaction rating. It also
provides its Protection Programs to homeowners through municipal
partnerships with the New York City Department of Environmental
Protection, Orlando Utilities Commission, Nashville Metro Water
Services and others.
About Pivotal Home Solutions
Since 1992, the home warranty plans offered by Pivotal Home
Solutions have helped protect homeowners from the costs of
unexpected repairs to their home’s systems, lines and/or
appliances. Pivotal Home Solutions’ operations include
approximately 1.2 million repair and maintenance plans in 18
states.
About American Water
With a history dating back to 1886, American Water is the
largest and most geographically diverse U.S. publicly-traded water
and wastewater utility company. The company employs more than 6,900
dedicated professionals who provide regulated and market-based
drinking water, wastewater and other related services to an
estimated 15 million people in 46 states, the District of Columbia
and Ontario, Canada. More information can be found by visiting
www.amwater.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180604006013/en/
American WaterEdward VallejoVice President, Investor
Relations856-566-4005edward.vallejo@amwater.comorMaureen DuffyVice
President, Communications and Federal
Affairs856-309-4546maureen.duffy@amwater.com
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