home
Water Industry News

Southwest Water buys almost 100 water systems

7/16/2004

LOS ANGELES Southwest Water Company has completed its acquisition of a Texas utility consisting of 86 water systems and 11 wastewater systems from Tecon Water Holdings, LP, according to a news release.

The approximately $63 million purchase price was paid by the assumption of approximately $18 million in existing debt and the remainder in cash. The utility systems serve about 21,000 water and 4,000 wastewater connections in Texas, the release said.

Anton C. Garnier, Southwest Water chairman and chief executive officer, said in the release, "This transaction marks an important step in our strategic plan for long-term, profitable growth. Within the next three months, Southwest Water anticipates completing the acquisition of a small water and wastewater utility owned by Tecon in Oklahoma."

Southwest Water Company owns regulated public utilities and also serves cities, utility districts and private companies under contract.