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New Jersey American Water has completed the $6.5 million acquisition of Manville's wastewater collection system, adding 4,300 new wastewater customers. The deal, approved by 83% of voters in November 2023, includes a commitment to invest $10 million in system improvements over the next decade. This marks the company's seventh acquisition in five years, adding over 18,600 customers. The acquisition will help Manville pay off municipal debt, stabilize property taxes, and secure long-term affordable rates for residents.
New Jersey American Water ha completato l' del sistema di raccolta delle acque reflue di Manville, aggiungendo 4.300 nuovi clienti per le acque reflue. L'accordo, approvato dall'83% degli elettori a novembre 2023, include un impegno a investire 10 milioni di dollari in miglioramenti del sistema nei prossimi dieci anni. Questo segna la settima acquisizione della compagnia in cinque anni, aumentando così il numero totale di clienti a oltre 18.600. L'acquisizione aiuterà Manville a estinguere debiti municipali, stabilizzare le tasse immobiliari e garantire tariffe accessibili a lungo termine per i residenti.
New Jersey American Water ha completado la del sistema de recolección de aguas residuales de Manville, añadiendo 4.300 nuevos clientes de aguas residuales. El acuerdo, aprobado por el 83% de los votantes en noviembre de 2023, incluye un compromiso de invertir 10 millones de dólares en mejoras del sistema durante la próxima década. Esta es la séptima adquisición de la compañía en cinco años, añadiendo un total de más de 18,600 clientes. La adquisición ayudará a Manville a saldar deudas municipales, estabilizar los impuestos a la propiedad y asegurar tarifas asequibles a largo plazo para los residentes.
뉴저지 아메리칸 워터가 맨빌의 하수도 수집 시스템을 650만 달러에 인수 완료하였으며, 4,300명의 신규 하수 고객을 추가했습니다. 이번 거래는 2023년 11월 83%의 유권자 승인을 받았으며, 향후 10년간 1천만 달러를 시스템 개선에 투자하겠다는 약속이 포함되어 있습니다. 이는 회사의 5년간 일곱 번째 인수로, 총 고객 수가 18,600명을 넘습니다. 이번 인수는 맨빌이 지방 정부의 채무를 상환하고, 재산세를 안정시키며, 주민들에게 장기적으로 저렴한 요금을 보장하는 데 도움을 줄 것입니다.
New Jersey American Water a achevé l' du système de collecte des eaux usées de Manville, ajoutant 4 300 nouveaux clients en eaux usées. L'accord, approuvé par 83 % des électeurs en novembre 2023, comprend un engagement à investir 10 millions de dollars dans des améliorations du système au cours de la prochaine décennie. Cela marque la septième acquisition de l'entreprise en cinq ans, portant le nombre total de clients à plus de 18 600. L'acquisition aidera Manville à rembourser ses dettes municipales, à stabiliser les taxes foncières et à garantir des tarifs abordables à long terme pour les résidents.
New Jersey American Water hat die 6,5 Millionen Dollar teure Übernahme des Abwassersammelsystems von Manville abgeschlossen und 4.300 neue Abwasser-Kunden hinzugefügt. Der Deal, der im November 2023 von 83 % der Wähler genehmigt wurde, beinhaltet das Versprechen, 10 Millionen Dollar in Systemverbesserungen in den nächsten zehn Jahren zu investieren. Dies ist die siebte Akquisition des Unternehmens in fünf Jahren und erhöht die Gesamtzahl der Kunden auf über 18.600. Die Übernahme wird Manville helfen, kommunale Schulden abzubauen, die Grundsteuern zu stabilisieren und langfristig erschwingliche Tarife für die Bewohner zu sichern.
Positive
Acquisition adds 4,300 new wastewater customers to customer base
Strong voter approval (83%) indicates community support
Committed $10 million investment in system improvements over 10 years
Demonstrates consistent growth strategy with 7 acquisitions in 5 years
Expands service in existing water customer territory, enabling operational synergies
Negative
Initial $6.5 million cash outlay for acquisition
Required $10 million additional capital commitment for improvements
Insights
The $6.5 million acquisition of Manville's wastewater system represents a strategic expansion for American Water Works, with several positive implications. The deal includes a commitment to invest $10 million in system improvements over 10 years, demonstrating a clear path for infrastructure development and revenue growth. This marks their seventh acquisition in five years, adding 4,300 new customers and bringing their total acquisition-based customer growth to over 18,600.
The strong voter approval (83%) and existing water service relationship with most customers suggest minimal integration risk. The transaction's structure allows Manville to reduce municipal debt while providing AWK with stable, regulated returns. This acquisition aligns with AWK's growth strategy of expanding through municipal system acquisitions, particularly in their existing service territories where they can leverage operational synergies.
This acquisition demonstrates the ongoing consolidation trend in water infrastructure, where larger utilities take over municipal systems needing significant upgrades. The $10 million improvement commitment addresses a critical need for infrastructure modernization while creating regulatory capital returns. The integration of water and wastewater services for existing customers will improve operational efficiency and enable more coordinated infrastructure planning.
The transaction represents a win-win scenario: the municipality offloads maintenance responsibilities and debt while securing stable rates and AWK gains a complementary asset with clear upgrade opportunities. The company's track record of similar acquisitions in New Jersey suggests strong execution capability and regulatory relationship management.
Acquisition Adds 4,300 New Wastewater Customers
CAMDEN, N.J.--(BUSINESS WIRE)--
New Jersey American Water today completed its acquisition of the wastewater collection system of the Borough of Manville, N.J. for $6.5 million. This municipally owned system serves approximately 4,300 customers, most of whom already receive water service from New Jersey American Water. On September 24, 2024, the New Jersey Board of Public Utilities approved the municipal consent allowing New Jersey American Water to provide wastewater service to Manville customers as of the closing of the transaction.
“Having served Manville for many years as its water provider, we are honored and proud to now extend our wastewater services to residents,” said Mark McDonough, president of New Jersey American Water. “We are committed to making the necessary improvements to Manville’s wastewater system and look forward to continuing to support our customers with the same level of excellence we have provided to them for the past two decades.”
The agreement to purchase the system was approved in a voter referendum in November 2023, which passed in a landslide fashion with 83 percent of the voters approving the sale of the system to New Jersey American Water. As part of the agreement, New Jersey American Water committed to invest a minimum of $10 million in wastewater system improvements over the next ten years.
“Selling the wastewater system to New Jersey American Water was the right decision for our community,” said Manville Mayor Richard Onderko. “The sale will allow us to pay off municipal debt, stabilize property taxes, and secure long-term, affordable rates for our residents. Most importantly, New Jersey American Water has the resources needed to invest in critical infrastructure improvements that will benefit Manville for years to come.”
Residents will receive additional information in the mail from New Jersey American Water within the next week, and information is also available on a dedicated webpage, Manville Wastewater, on the company’s website at www.newjerseyamwater.com, under Customer Service and Billing.
This is New Jersey American Water’s seventh acquisition in the last five years, adding more than 18,600 new water and/or wastewater customers. The company completed the acquisition of Salem City’s 1,500 customer water and wastewater system in June 2024, as well as four wastewater system acquisitions within the company’s footprint - the Somerville wastewater system with 3,800 customers in 2023; the Bound Brook wastewater system with 2,800 customers in 2022; the Long Hill Township wastewater system with 2,900 customers in 2020, and the Mount Ephraim wastewater system with 1,800 customers in 2019. Additionally, New Jersey American Water completed the acquisition of Egg Harbor City’s water and wastewater system in June 2023 via the state’s Water Infrastructure Protection Act, adding more than 1,500 water and wastewater customers.
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.
New Jersey American Water, a subsidiary of American Water, is the largest regulated water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.9 million people. For more information, visit www.newjerseyamwater.com and follow New Jersey American Water on LinkedIn, Facebook, X, and Instagram.
