Divestiture • Utilities

Liberty Utilities Co. Acquires American Water Works Co. - New York American Water

On November 20, 2019, Liberty Utilities Co. acquired utilities company American Water Works Co. - New York American Water from American Water for 608M USD

Acquisition Context
  • This is Liberty Utilities Co.’s 2nd transaction in the Utilities sector.
  • This is Liberty Utilities Co.’s largest (disclosed) transaction.
  • This is Liberty Utilities Co.’s 2nd transaction in the United States.
  • This is Liberty Utilities Co.’s 1st transaction in New York.

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M&A Deal Summary

Date November 20, 2019
Target American Water Works Co. - New York American Water
Sector Utilities
Buyer(s) Liberty Utilities Co.
Sellers(s) American Water
Deal Type Divestiture
Deal Value 608M USD

Target Company

American Water Works Co. - New York American Water

Merrick, New York, United States
American Water's New York American Water is a regulated water and wastewater utility serving over 125,000 customer connections across seven counties in southeastern New York. Operations include approximately 1,270 miles of water mains and distribution lines with 98% of customers in Nassau County on Long Island.
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Buyer Overview 1

Buyer

Liberty Utilities Co.

Avondale, Arizona, United States

Category Company
Founded 2013
Sector Utilities
DESCRIPTION

Liberty Utilities Co. is a regulated water, natural gas and electric transmission and distribution utility, delivering responsive and reliable essential services to over one third of a million customers across the United States.


Deal Context for Buyer #
Overall 2 of 2
Sector: Utilities 2 of 2
Type: Divestiture 2 of 2
State: New York 1 of 1
Country: United States 2 of 2
Year: 2019 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-20 New England Gas Co.

Fall River, Massachusetts, United States

New England Gas Co. is a distributor of natural gas and also offers equipment services and repairs.

Buy $74M

Seller Profile 1

SELLER

American Water

Camden, New Jersey, United States

Category Company
Founded 1886
Sector Utilities
Employees6,700
Revenue 4.7B USD (2024)
DESCRIPTION

American Water is a geographically diversified United States water and wastewater utility company. The Company's primary business involves the ownership of subsidiaries that provide water and wastewater utility services to residential, commercial, industrial and other customers, including sale for resale and public authority customers. American Water was incorporated in 1886 and is based in Camden, New Jersey.


Deal Context for Seller #
Overall 2 of 4
Sector: Utilities 1 of 3
Type: Divestiture 2 of 4
State: New York 1 of 1
Country: United States 2 of 4
Year: 2019 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-11 Southern Co. - Pivotal Home Solutions

Atlanta, Georgia, United States

Southern Co. - Pivotal Home Solutions is a home warranty business operating in 18 states with about 1.2 million customer contracts. Pivotal Home Solutions offers coverage for a wide variety of home appliances, heating and cooling systems, and lines in and around a home.

Buy $365M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-21 Keystone Clearwater Solutions

Hershey, Pennsylvania, United States

Keystone Clearwater Solutions LLC is a water service provider offering a range of water-related services to the oil and gas industry primarily in the Appalachian region of Pennsylvania, Ohio and West Virginia.

Sell -