Water Industry News
buys almost 100 water systems
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.