Essential Utilities’ Aqua Illinois Subsidiary Acquires Village of Bourbonnais Assets
September 14 2021 - 8:38AM
Business Wire
Service provider commits to $9 million in
community infrastructure investments
Essential Utilities Inc. (NYSE: WTRG) today announced that its
Aqua Illinois subsidiary has acquired the wastewater system of the
Village of Bourbonnais, which serves approximately 6,500 customer
connections in Kankakee County, Ill., for $32.1 million.
“At Essential, we are so proud to deliver safe, reliable
services that improve quality of life for our customers in the
communities we serve,” said Essential Chairman and CEO Christopher
Franklin. “The Village of Bourbonnais is already a valued water
partner of Aqua Illinois, and on behalf of our entire team, we are
thrilled that this purchase will enable us to expand our
contributions in the community.”
Bourbonnais is the second acquisition completed by Essential’s
Aqua companies in 2021. The company currently has six additional
signed purchase agreements for water and wastewater systems, which
have a total purchase price of $426.4 million and represent
approximately 226,500 equivalent dwelling units.
As part of the agreement, Aqua Illinois has committed to
investing at least $9 million into system upgrades that will
provide valuable infrastructure and reliability improvements for
the Bourbonnais community.
“The Aqua Illinois team is already hard at work to provide
quality wastewater services and exceptional customer care in
Bourbonnais,” said Aqua Illinois President Craig Blanchette.
“Focusing on our customers’ needs as we deliver essential resources
and services has always been our priority. We value Bourbonnais’
partnership, and we look forward to being the village’s trusted
wastewater service provider for years to come.”
Aqua Illinois serves approximately 270,000 people in 70
communities across 13 Illinois counties. Visit AquaAmerica.com for
more information or follow @MyAquaAmerica on Facebook and
Twitter.
About Essential
Essential is one of the largest publicly traded water,
wastewater and natural gas providers in the U.S., serving
approximately 5 million people across 10 states under the Aqua and
Peoples brands. Essential is committed to excellence in proactive
infrastructure investment, regulatory expertise, operational
efficiency and environmental stewardship. The company recognizes
the importance water and natural gas play in everyday life and is
proud to deliver safe, reliable services that contribute to the
quality of life in the communities it serves. For more information,
visit http://www.essential.co.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including. There are important factors that could cause actual
results to differ materially from those expressed or implied by the
forward-looking statements including: general economic business
conditions; the successful integration of the customers and the
facility; and other factors discussed in our Annual Report on Form
10-K, which is on file with the Securities and Exchange Commission.
For more information regarding risks and uncertainties associated
with Essential Utilities’ business, please refer to Essential
Utilities’ annual, quarterly and other SEC filings. Essential
Utilities is not under any obligation — and expressly disclaims any
such obligation — to update or alter its forward-looking statements
whether as a result of new information, future events or
otherwise.
WTRGF
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version on businesswire.com: https://www.businesswire.com/news/home/20210914005714/en/
Brian Dingerdissen Investor Relations O: 610.645.1191
BJDingerdissen@Essential.co
Erin O’Donnell Communications and Marketing 412.208.6614
Media@essential.co
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