Indiana American Water Acquires Georgetown Water System in Southern Indiana
November 17 2017 - 1:30PM
Business Wire
Sale will result in lower rates for Georgetown
residents
Indiana American Water President Deborah Dewey today announced
the company’s acquisition of Georgetown Water, a municipal water
utility located in southern Indiana. The purchase of the system
adds approximately 1,300 customers to the company’s customer base,
which represents a population of approximately 3,500 residents.
“The acquisition of this system will provide Georgetown
customers with lower rates and access to operations and capital
management water professionals and a number of customer service
options and payment methods,” said Dewey. “Indiana American Water
already provides water to several nearby communities and to the
Town of Georgetown through a wholesale contract, so this is a good
fit for us and a continuation of our efforts to expand our presence
across Indiana.”
“In a time when communities are looking for new and innovative
ways to deal with challenges they’re facing and hold the
bottom-line on expenses, this acquisition is a great solution for
the utility and its customers,” Dewey continued.
Georgetown Town Council President Everett Pullen is also
enthusiastic in his support of the acquisition. “Our community was
struggling to address pressing local infrastructure needs,” said
Pullen. “This acquisition will help us to address these concerns
while also lowering customers’ water rates. We appreciate the
experience, knowledge and resources that Indiana American Water
brings to the table and look forward to working with them.”
The acquisition of the Georgetown system for approximately $6.4
million was approved by the Indiana Utility Regulatory Commission
in October and closed by Indiana American Water and the Town of
Georgetown on Wednesday, Nov. 15, 2017. The Georgetown system will
be incorporated into the company’s Southern Indiana district, which
currently serves approximately 100,000 residents.
About Indiana American Water
Indiana American Water, a subsidiary of American Water (NYSE:
AWK), is the largest investor owned water utility in the state,
providing high-quality and reliable water and/or wastewater
services to more than 1.3 million people. 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 6,800 dedicated professionals who
provide regulated and market-based drinking water, wastewater and
other related services to an estimated 15 million people in 47
states and Ontario, Canada. More information can be found by
visiting www.amwater.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171117005701/en/
Indiana American WaterJoe Loughmiller, 317-885-2434Cell:
317-903-7431joe.loughmiller@amwater.com
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