Artesian Water Company, Inc. Closes on the Acquisition of Town of Clayton Water System
Artesian Water Company, a subsidiary of Artesian Resources Corporation (Nasdaq: ARTNA), completed its acquisition of the Town of Clayton's water system on May 26, 2022. The Delaware Public Service Commission approved the sale on April 20, 2022. This strategic acquisition enhances the ability to regionalize water systems and improve reliability for over 7,000 residents in the area, including 1,500 from Clayton. Artesian has a long-standing partnership with the town, and this acquisition marks its eighth water system purchase in six years, supporting ongoing residential and commercial growth.
- Acquisition enhances regionalization and water reliability for over 7,000 residents.
- Seamless transition for Clayton customers with Artesian's 24/7 emergency operations.
- Marks eighth water system acquisition in six years, indicating growth strategy.
- None.
NEWARK, Del., May 26, 2022 (GLOBE NEWSWIRE) -- Artesian Water Company, Inc., a subsidiary of Artesian Resources Corporation (Nasdaq: ARTNA), closed on the acquisition of the water system of the Town of Clayton, Delaware on May 26, 2022. The sale and transfer of assets from the Town of Clayton to Artesian Water Company was approved by the Delaware Public Service Commission on April 20, 2022.
For over 20 years Artesian has partnered with the Town of Clayton, including the interconnection of multiple water systems. This acquisition, which is the culmination of a long established public-private relationship, strategically positions Artesian to fully regionalize the water systems, enhance fire protection, and provide reliability for existing customers and future growth in this area. The Town of Clayton spans the border between New Castle County and Kent County in the middle of Delaware. Artesian’s Northern Kent Regional water system will now provide water to over 7,000 residents, including 1,500 Clayton customers, utilizing over 40 miles of main, 2 water treatment plants, 5 wells, and 3 elevated water storage tanks. “Our acquisition of the Clayton water system positions Artesian’s larger regional system to grow alongside the town, which has multiple residential and commercial projects under construction,” said Dian C. Taylor, Chair and CEO.
Residents of Clayton will now have the benefit of Artesian’s 24/7 emergency operations center and access to our excellent customer service teams. Along with our open communication, this strong collaboration will allow the transition of the acquisition to be seamless for customers. “Our long-standing relationship with Clayton made this acquisition a natural fit. We are delighted that our approach to providing safe drinking water to the citizens of Delaware now encompasses this part of the state,” said Nicki Taylor, President of Artesian Water Company.
This acquisition marks our eighth water system acquisition over the past 6 years, including the water systems of Slaughter Beach Water Company, High Point, Cantwell, Odessa, Historic Fort DuPont, Frankford, and most recently, Delaware City.
About Artesian Resources
Artesian Resources Corporation operates as a holding company of wholly-owned subsidiaries offering water and wastewater services, and a number of other related core 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 since 1905. Artesian supplies 8.4 billion gallons of water per year through 1,398 miles of water main to over a third of Delaware residents.
Contact:
Virginia Eisenbrey
Communications
(302) 453-6900
veisenbrey@artesianwater.com
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