Missouri American Water Completes Acquisition of Ironton Water and Wastewater Systems

Rhea-AI Summary

Missouri American Water (ticker symbol: MAW) has completed the acquisition of the Ironton water and wastewater systems for a combined purchase price of $3.7 million.

ST. LOUIS--(BUSINESS WIRE)-- Missouri American Water today completed its acquisition of the Ironton water and wastewater systems for a combined purchase price of $3.7 million. Ironton is located about 80 miles south of St. Louis in Iron County. The community is part of Arcadia Valley in the St. Francois Mountains of the Ozark Plateau.

“We are honored to start providing clean, safe, reliable and affordable water and wastewater service to our new customers in Ironton,” said Rich Svindland, president of Missouri American Water. “The Missouri Public Service Commission’s approval allows us to move forward with investments to improve water quality and achieve regulatory compliance.”

In November 2022, Ironton residents overwhelmingly voted in favor of Proposition S, selecting Missouri American Water as their water and wastewater service provider.

“We have extensive experience and expertise in the water and wastewater industry, and we have the size and scale, supported by our parent company American Water, to make system upgrades and provide solutions for our customers in communities big and small,” said Brian Eisenloeffel, senior director of operations for Missouri American Water.

The company has committed to investing $8.4 million over the next 10 years to upgrade Ironton’s water and wastewater systems to achieve regulatory compliance and improve reliability and water quality.

“The local streams and lakes in the Arcadia Valley are home to an array of wildlife and provide recreational activities for both residents and visitors alike. We are committed to making needed improvements to the wastewater system to preserve and protect Stouts Creek and the local watershed,” said Tim Ganz, director of water quality for Missouri American Water.

The acquisition adds approximately 700 water customers and 700 wastewater customers to Missouri American Water’s footprint.

About American Water

American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X (formerly Twitter) and Instagram.

Missouri American Water

Missouri American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high-quality and reliable water and wastewater services to approximately 1.6 million people. For more, visit missouriamwater.com and follow Missouri American Water on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231213500057/en/

Media:

Christie Barnhart

Senior Manager, External Communications

Cell: 417-529-9781

Christie.barnhart@amwater.com

Source: Missouri American Water

FAQ

What did Missouri American Water acquire?

Missouri American Water acquired the Ironton water and wastewater systems.

What was the purchase price for the acquisition?

The combined purchase price for the acquisition was $3.7 million.