Bridgeport utility Aquarion Water Co. announced on Wednesday a planned purchase of 20 water systems in four Connecticut communities.
The purchase adds 1,028 customers from Danbury, New Fairfield, Ridgefield and Brookfield into the utility’s system of 580,000 customers in 39 cities and towns in Connecticut, as well as Massachusetts and New Hampshire. Even before the purchase, Aquarion already was New England’s largest investor-owned water utility.
The terms of the deal with Rural Water Co., Inc. of Bethel, were not disclosed.
“Smaller water companies most often have difficulty in meeting regulatory standards and the accompanying tremendous investment requirements of today’s modern water systems,” Aquarion CEO Charles Firlotte said in a press release. “The acquisition of these systems is part of our strategic growth initiative that will allow Aquarion to actively pursue, and ultimately improve, other local water systems throughout the state.”
Aquarion previously announced intended acquisitions of the Topstone Water Co. in Ridgefield and another five companies serving 4,000 residents in Greater Danbury.
On Tuesday, Clinton water utility Connecticut Water Co. purchased Madison’s Green Springs Water Co., adding 90 customers to the Connecticut Water Co.’s roster of more than 300,00 customers.
