M&A Deal Summary

Aquarion Water Acquires New England Service

On April 8, 2021, Aquarion Water acquired utilities company New England Service

Acquisition Highlights
  • This is Aquarion Water’s 1st transaction in the Utilities sector.
  • This is Aquarion Water’s 1st transaction in the United States.
  • This is Aquarion Water’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2021-04-08
Target New England Service
Sector Utilities
Buyer(s) Aquarion Water
Deal Type Add-on Acquisition
Advisor(s) Cranmore, FitzGerald & Meaney (Legal)

Target

New England Service

Plainville, Connecticut, United States
Headquartered in Plainville, Connecticut, New England Service Co. is predominantly involved in the operation, management, and financing of water systems and other related activities. NESC was formed in 1997 to operate in both regulated and unregulated water markets. NESC is the sole stockholder of four regulated water companies.

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Buyer(S) 1

Buyer

Aquarion Water

Monroe, Connecticut, United States
Category Company
Founded 1857
Sector Utilities
Employees384
DESCRIPTION

Aquarion Water Co., Inc. is a public water supply company for more than 625,000 people in 51 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, Conn.

DEAL STATS #
Overall 1 of 2
Sector (Utilities) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Connecticut) 1 of 2
Country (United States) 1 of 2
Year (2021) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-08 The Torrington Water

Torrington, Connecticut, United States

The Torrington Water is a regulated public water utility that provides water service to just over 10,000 customers, or about 37,000 people, in 5 towns. The Torrington Water was founded in 1873 and is based in Torrington, Connecticut.

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Legal