M&A Deal Summary

Artesian Resources Acquires Tidewater Environmental

On August 30, 2021, Artesian Resources acquired environmental company Tidewater Environmental from Middlesex Water for 6M USD

Acquisition Highlights
  • This is Artesian Resources’ 1st transaction in the Environmental sector.
  • This is Artesian Resources’ largest (disclosed) transaction.
  • This is Artesian Resources’ 1st transaction in the United States.
  • This is Artesian Resources’ 1st transaction in Washington.

M&A Deal Summary
Date 2021-08-30
Target Tidewater Environmental
Sector Environmental
Buyer(s) Artesian Resources
Sellers(s) Middlesex Water
Deal Type Divestiture
Deal Value 6M USD

Target

Tidewater Environmental

Vancouver, Washington, United States
Tidewater Environmental owns and operates a diverse, state-of-the-art fleet that is capable of handling any type of waste removal. Tidewater Environmental Services operates under the national HAZWOPER guidelines and can assist with all ship cleaning, tank cleaning, waste transportation, and disposal needs. Tidewater Environmental was founded in 1990 and is based in Vancouver, Washington.

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Buyer(S) 1

Buyer

Artesian Resources

Newark, Delaware, United States
Category Company
Founded 1905
Sector Environmental
Employees251
Revenue 99M USD (2023)
DESCRIPTION

Artesian Resources operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and related services, on the Delmarva Peninsula. Artesian Water Company, the principal subsidiary, is the oldest and largest regulated water utility on the Delmarva Peninsula and has been providing water service. Artesian Resources was founded in 1905 and is headquartered in Newark, Delaware.

DEAL STATS #
Overall 1 of 1
Sector (Environmental) 1 of 1
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Middlesex Water

Iselin, New Jersey, United States
Category Company
Founded 1896
Sector Utilities
Employees350
Revenue 166M USD (2023)
DESCRIPTION

Middlesex Water owns and operates regulated water utility systems in central and southern New Jersey and in Delaware as well as regulated wastewater utility systems in Southern New Jersey and southern Delaware. The company provides water services to approximately 60,000 retail customers, primarily in eastern Middlesex County, New Jersey and offers water under wholesale contracts to the City of Rahway, Township of Edison, the Borough of Highland Park, the Township of Marlboro and the Old Bridge Municipal Utilities Authority. The Middlesex System treats, stores and distributes water for residential, commercial, industrial and fire prevention purposes. Under a special contract, the Middlesex System also provides water treatment and pumping services to the Township of East Brunswick. Middlesex Water was founded in 1896 and is based in Iselin, New Jersey.

DEAL STATS #
Overall 1 of 1
Sector (Environmental) 1 of 1
Type (Divestiture) 1 of 1
State (Washington) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-05 Twin Lakes Water Services

Shohola, Pennsylvania, United States

Twin Lakes Water Services, Inc. serves approximately 330 people in Shohola, Pennsylvania in the northeastern part of the state. Company has a stringent water quality monitoring and testing program to ensure drinking water that meets and consistently exceeds state and federal water quality standards. The Company provides information on its water quality results to customers through Annual Water Quality Reports to customers.

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