EPCOR Water completes 2 acquisitions in Southwestern USA
Jan 14, 2014
EPCOR Water (USA) Inc., a wholly owned subsidiary of EPCOR Utilities Inc. (EPCOR), announced that it has completed the previously announced acquisitions of North Mohave Valley Corporation and Thunder Mountain Water Company.
"As we close the year, we are very pleased to announce the completion of these two acquisitions and the expansion of our service in Arizona and New Mexico," said EPCOR Water (USA) Inc. President Joe Gysel. "EPCOR is committed to growing our business in the southwestern United States. These additions bring incremental value, important water resources in northwestern Arizona and are a natural extension of EPCOR’s water operations in communities where we already provide service."
Through its Arizona subsidiary EPCOR Water Arizona Inc. (EPCOR Arizona), EPCOR USA acquired substantially all of the assets of North Mohave Valley Corporation for approximately US$2.5 million. Through its New Mexico subsidiary EPCOR Water New Mexico Inc. (EPCOR New Mexico), EPCOR USA acquired substantially all of the assets of Thunder Mountain Water Company for approximately US$950,000.
Regulatory approvals for each purchase were received from the Arizona Corporation Commission and the New Mexico Public Regulation Commission, respectively.
EPCOR Arizona's new North Mohave water district – previously North Mohave Valley Corporation – provides water service to approximately 2,000 customer connections in the Bullhead City area, a service territory that is contiguous to and surrounds a portion of EPCOR Arizona’s existing Mohave district. With the addition of North Mohave, EPCOR Arizona now provides water and wastewater services to approximately 21,000 customer connections in northwestern Arizona.
EPCOR New Mexico's new Thunder Mountain water district, previously known as Thunder Mountain Water Company, provides water service to approximately 750 customer connections in the Edgewood area, a service territory adjacent to EPCOR New Mexico's approximately 1,900-customer connections in the Edgewood district. The two systems are already interconnected – water provided to Thunder Mountain customers is purchased from EPCOR Water New Mexico Inc. through a wholesale purchasing agreement.
EPCOR USA is the largest, private regulated water utility in Arizona and New Mexico. With the completion of these two acquisitions, EPCOR USA now provides water and wastewater services to approximately 195,000 customer connections across 22 communities and seven counties.
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