Bridgeport-headquartered Aquarion Water Co. has acquired the assets associated with Pinehills Water Co.”™s community water system in Plymouth, Massachusetts, for $15 million.
Pinehills Water Co. serves approximately 2,700 customer connections in The Pinehills, a master planned open space mixed use community with an anticipated full build-out of approximately 3,200 customer connections upon completion. The acquisition encompasses all the existing water infrastructure including water mains, hydrants, wells, pumping stations, and the 2-million-gallon water storage tank.
The acquisition is subject to the approval of the Massachusetts Department of Public Utilities. Since 2011, Aquarion has purchased and integrated 87 water systems through 28 different transactions.
“Aquarion has been providing high-quality water service to New England communities since 1857,” said Donald Morrissey, president of Aquarion. “We look forward to the opportunity to deliver exceptional water and customer service to Pinehills customers.”
