Essential Utilities acquires Union Rome Sewer system for $25.5 million
(UI) – Essential Utilities Inc. announced its Aqua Ohio subsidiary completed the purchase of the Union Rome Sewer (URS) system for $25.5 million. The system includes a wastewater collection network serving 5,300 connections in Lawrence County, Ohio.
“I’m thankful Aqua is willing to take on improving the system,” said Lawrence County Commissioner Dr. Colton Copely. “The Union Rome Sewer district is $20 million in debt and needs another $12 million in immediate upgrades. It just wasn’t feasible for the County to continue to operate the system. Aqua has the resources to make needed updates that are so important to protecting the health and safety of the residents in this part of the County.”
The transaction builds on Essential’s regional expansion strategy, which delivers growth by investing in infrastructure that delivers clean, safe, and reliable natural resources to residential and business customers, including water and wastewater services.
More than $12 million of planned investments in five years
Essential plans to invest more than $12.7 million in the sewer system within the next five years to meet regulatory and environmental demands. All URS employees were offered employment at Aqua, pending the company’s standard hiring practices.
Union Rome is the second acquisition completed by Essential’s regulated water segment in 2023, following the March acquisition of Pennsylvania-based North Heidelberg Sewer Company. Essential currently has signed seven purchase agreements for eight water and wastewater systems.
Together, these systems represent over 213,000 equivalent retail customers or equivalent dwelling units with nearly $355 million in purchase price. In 2022, Essential acquired three water and sewer systems, which added approximately $120 million in rate base and more than 23,000 new customers or equivalent dwelling units to the company’s footprint.
Related News
From Archive
- DeLa Express seeks FERC approval for Permian-to-Louisiana gas pipeline project
- OSHA penalizes Houston contractor over safety violations resulting in worker's death
- Fiber infrastructure has no known expiration date, Fiber Broadband Association research concludes
- Nevada OSHA fines Elon Musk's Boring Company over safety violations in Vegas tunnel project
- Damage prevention and safety: Turning awareness into action
- Ditch Witch 1030
- Michigan lawmakers introduce bills to create septic codes throughout the state
- Indiana American Water to gain 8,000 water customers with Silver Creek Water acquisition
- Arkansas governor allocates $42 million for water infrastructure projects
- Federal judge finds Flint, Mich, in contempt over lead water pipe crisis
Comments