Essential Utilities (WTRG) Aqua Pennsylvania Subsidiary Acquires the Municipal Wastewater Assets of East Whiteland Township
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Essential Utilities Inc. (NYSE: WTRG) announced today that its Pennsylvania wastewater subsidiary has acquired the municipal wastewater assets of East Whiteland Township, Chester County for approximately $55 million.
East Whiteland Township’s wastewater system serves approximately 8,200 customer-equivalents including residential and commercial connections. The system is comprised of 57 miles of collection mains and 12 pump stations. The collection system accepts waste from the neighboring municipalities of Malvern Borough and Charlestown Township. Its waste passes through Aqua’s Valley Creek Trunk Sewer system to the Valley Forge Sewer Authority for treatment. Essential’s unregulated subsidiary, Aqua Resources, purchased the 9-mile Valley Creek trunk system in December 2018, which consists of gravity sewers, force mains and two pump stations, from the Tredyffrin Municipal Township Authority.
“It’s particularly pleasing to be entrusted with the wastewater assets of East Whiteland Township, a municipality for which we’ve provided water service for years,” said Essential Chairman and CEO Chris Franklin. “Our excellent water service in the East Whiteland community brought important credibility to our offer to handle wastewater service in the township. We look forward to serving both water and wastewater customers throughout the township in the future.”
Aqua Pennsylvania President Marc Lucca said, “We look forward to providing excellent service to the East Whiteland community and have already identified the need for $17 million in infrastructure improvements over the next decade including two major sewer extensions. That work will likely begin with the Planebrook and Bacton Hill roads’ sewer extensions,” said Lucca.
East Whiteland is the second acquisition completed by Essential’s Aqua companies in 2022. The company currently has six additional signed purchase agreements to acquire water and wastewater systems in three of our existing states, which have a total purchase price of more than $363 million and represent approximately 216,000 equivalent retail customers or equivalent dwelling units.
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