M&A Deal Summary

New Mexico Water Acquires Monterey Water

On March 22, 2022, New Mexico Water acquired utilities company Monterey Water

Acquisition Highlights
  • This is New Mexico Water’s 2nd transaction in the Utilities sector.
  • This is New Mexico Water’s 2nd transaction in the United States.
  • This is New Mexico Water’s 2nd transaction in New Mexico.

M&A Deal Summary
Date 2022-03-22
Target Monterey Water
Sector Utilities
Buyer(s) New Mexico Water
Deal Type Add-on Acquisition

Target

Monterey Water

Belen, New Mexico, United States
Monterey Water is a water utility comoany that owns and operates the water system, which currently serves 380 residential customers. Monterey Water is based in Belen, New Mexico.

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Buyer(S) 1

Buyer

New Mexico Water

San Jose, California, United States
Category Company
Sector Utilities
DESCRIPTION

New Mexico Water Service currently serves about 16,000 people through 8,500 water and wastewater service connections in its Rio Communities, Rio Del Oro, Meadow Lake, Indian Hills, Squaw Valley, Elephant Butte, Sandia Knolls, Juan Tomas, and Cypress Gardens systems in New Mexico. New Mexico Water Service has a corporate office is located in San Jose, California.

DEAL STATS #
Overall 2 of 3
Sector (Utilities) 2 of 3
Type (Add-on Acquisition) 2 of 3
State (New Mexico) 2 of 3
Country (United States) 2 of 3
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-03 Hi Mesa Water System

Los Lunas, New Mexico, United States

Hi Mesa Water System provides regulated water utility service to about 85 customers in unincorporated Valencia County and is less than one mile from New Mexico Water’s Meadow Lake service area. Hi Mesa Water System is based in Los Lunas, New Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-26 Lake Section Water

Chaparral, New Mexico, United States

Lake Section Water serves 5,000 customer connections about 110 miles south of New Mexico Water’s Elephant Butte system in the greater El Paso, Texas, metropolitan area. Lake Section Water is based in Chaparral, New Mexico.

Buy -
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