Indiana American Water Acquires Lowell Water System in Northwest Indiana
28 Dezember 2021 - 11:18PM
Business Wire
Indiana American Water President Matt Prine today announced the
company’s acquisition of the Lowell water system in northwest
Indiana. The purchase of the system adds approximately 4,000 water
customers to the company’s customer base, which represents a
population of nearly 11,000 residents.
“The acquisition of this system will help hold future rates down
for Lowell customers as needed investments are made and also
provide access to operations and capital management water
professionals and a number of customer service options and payment
methods,” said Prine. “Indiana American Water already provides
water service to several nearby communities, so this is a good fit
for us and a continuation of our efforts to expand our presence
across Indiana.”
The Lowell acquisition marks the largest acquisition by Indiana
American Water in more than two decades. The company provides water
service to approximately one in five residents across the state and
owns and/or operates more than 35 water and wastewater systems in
Indiana.
According to Lowell Town Council President Todd Angerman,
“Lowell customers will benefit from Indiana American Water’s
experience and expertise and the company’s large customer base
across the state will provide much greater economies of scale and
future rate stability by keeping water rates lower than they would
have been as a small stand-alone system. The acquisition will also
help us to meet future growth in the area and provide the resources
to focus on other community needs.”
The acquisition of the Lowell water system for $24.5 million was
approved by the Indiana Utility Regulatory Commission on December
22, 2021 and closed by Indiana American Water and the Town of
Lowell on December 28, 2021.
About Indiana American Water
Indiana American Water, a subsidiary of American Water (NYSE:
AWK), is the largest investor-owned water utility in the state,
providing high-quality and reliable water and wastewater services
to approximately 1.32 million people. With a history dating back to
1886, American Water (NYSE:AWK) is the largest and most
geographically diverse U.S. publicly traded water and wastewater
utility company. The company employs more than 6,500 dedicated
professionals who provide regulated and regulated-like drinking
water and wastewater services to an estimated 14 million people in
25 states. American Water provides safe, clean, affordable and
reliable water services to our customers to help keep their lives
flowing. For more information, visit amwater.com and follow
American Water on Twitter, Facebook and LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20211228005197/en/
Joe Loughmiller 317-885-2434 (office) 317-903-7431 (cellular)
joe.loughmiller@amwater.com
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