Aqua Texas, Inc. (Aqua), a subsidiary of Aqua America, Inc., has acquired the water systems of Harper Water Company, Inc. in a transaction valued at $1.5 million. The acquisition consists of water systems supplying seven residential communities, which house more than 2,000 people in both Kerr and Gillespie counties.
“With this acquisition, Aqua now operates systems in 50 counties across Texas and further expands our regional network in the fast-growing San Antonio-Kerrville area. Furthermore, we will efficiently integrate these systems into our existing operations to take advantage of economies of scale,” said Aqua America Chairman and CEO Nicholas DeBenedictis.
The newly acquired systems are located close to Aqua’s existing operations near Kerrville and Fredericksburg. Aqua owns more than 375 water and wastewater systems in Texas serving approximately 155,000 people.
Over the next several years, Aqua plans to make nearly $400,000 in water infrastructure improvements to the system, including upgrading storage tanks, modernizing electrical and treatment systems and rehabilitating existing water wells. In addition, the company will install a state-of-the-art radio frequency (RF) meter reading system for all Harper customers.
Aqua Texas is a subsidiary of Aqua America, a publicly traded water and wastewater utility holding company, with operating subsidiaries serving approximately 2.8 million people in Pennsylvania, Texas, New York, Ohio, North Carolina, Illinois, Florida, New Jersey, Indiana, Virginia, Maine, Missouri, and South Carolina.
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