BRIDGEPORT, CONN. – July 11, 2019 – Aquarion Water Company today announced that the company has signed an Asset Purchase Agreement (APA) with the Town of Marlborough, Connecticut, facilitating Aquarion’s acquisition of the town’s municipal water system. The purchase price for the system is $572,427, pending approval from the Connecticut Public Utilities Regulatory Authority (PURA). The sale of the water system to Aquarion was approved at a town meeting held on June 18, 2019.
“We have had the privilege of operating Marlborough's water system since 2017 and are proud of our track record of reliably providing clean, quality water,” Aquarion President and CEO Charles V. Firlotte said. “By purchasing the system, we can leverage our considerable experience to maintain the system, make prudent infrastructure investments, and ensure that Marlborough residents can count on excellent water for decades to come.”
Since 2011, Aquarion has purchased and integrated 68 Connecticut water systems into its portfolio, strengthening the company’s ability to deliver high quality water to communities throughout the state.
“Aquarion has a well-deserved reputation of providing safe, quality water and industry-leading customer service,” said Marlborough First Selectman Amy Traversa. “Aquarion’s purchase of our system will ensure that Marlborough’s water quality and capacity challenges are met, while providing substantial funding that will be used for other capital investments in our community."
Following the signing of the APA, Aquarion will file an application with PURA and the Department of Public Health for their approval, a process that is estimated to be completed by the first quarter of 2020.
Aquarion Water Company is the public water supply company for more than 625,000 people in 52 cities and towns throughout Connecticut, as well as serving customers in Massachusetts and New Hampshire. It is the largest investor-owned water utility in New England and among the seven largest in the U.S. based in Bridgeport, CT, it has been in the public water supply business since 1857. Across its operations, Aquarion strives to act as a responsible steward of the environment and to assist the communities it serves in promoting sustainable practices. Aquarion Water Company is a wholly-owned subsidiary of Eversource.