Aquarion Company Completes Acquisition of New England Service Company

BRIDGEPORT, Connecticut., December 1, 2021 / PRNewswire / – Aquarion Company announced today that it has completed the acquisition of New England Service Company (NESC). Aquarion is a holding company headquartered in Bridgeport, Connecticut, and through its wholly owned operating subsidiaries, provides regulated water service to customers of Connecticut, Massachusetts, and New Hampshire. NESC is a holding company based in Plainville, Connecticut provide regulated water service to customers in Connecticut, Massachusetts, and New Hampshire. Through the acquisition, NESC is now a wholly owned subsidiary of Aquarion. This acquisition adds nearly 10,000 former NESC customers to Aquarion’s 216,000 customer base, with all NESC employees retained.

“Aquarion is delighted to be able to provide reliable, high quality water service to customers previously served by NESC,” said Aquarion President. Donald Morrissey. “We are also delighted to welcome all NESC employees who will now be part of our team. We look forward to providing excellent service and cutting-edge technical expertise to all NESC customers who join the Aquarion family. ”

The acquisition includes all of NESC’s operations:

  • Connecticut:
    • Valley Water System (serving customers Farmington, Plainville and Southington)
  • Massachusetts:
    • Colonial Water Company (serving customers Dover and Plymouth)
    • Mountain Water Systems (serving customers Sheffield)
  • New Hampshire:
    • Abenaki Water Company (serving customers in Belmont, Bow, Bretton woods domain of Carroll, and Gilford)

The acquisition follows the approval of the Connecticut Public Utilities Regulatory Authority, the Massachusetts Department of Public Utilities and the New Hampshire Public Utilities Commission. The acquisition was unanimously approved by the boards of directors of Aquarion and NESC and was also approved by the shareholders of NESC in August 2021.

“The acquisition of NESC marks the 26e and the largest transaction Aquarion has completed since 2011, adding 84 separate systems over that ten-year period, ”said Morrissey. “During these acquisitions, we have added more than 10% to our customer base and thanks to this consolidation, enhanced service for new and existing customers. We are proud to have the opportunity to provide exceptional water to even more families and businesses across New England. ”

The acquisition was completed through a share-for-share transaction structured to be a tax-free reorganization. Through the acquisition, NESC shareholders received 0.51208 common shares of Aquarion’s parent company, Eversource Energy, in exchange for each common share of NESC. In connection with the exchange, Eversource Energy issued approximately 463,000 Eversource common shares on closing.

About the company Aquarion:

Aquarion Company is the public water supply company of more than 700,000 people in 68 towns and villages of Connecticut, Massachusetts and New Hampshire. It is the largest investor-owned water utility in New England and among the seven largest in the United States. Bridgeport, Connecticut, Aquarion has been in the public water supply sector since 1857. In all of its operations, Aquarion strives to act as a responsible steward of the environment and to assist the communities it serves to promote. sustainable practices. Aquarion Company is a wholly owned subsidiary of Eversource.

For more information on Aquarion, please visit www.aquarionwater.com Where www.facebook.com/aquarionwater.

Media contact:
Pierre Fazekas
Director – Corporate Communications
Aquarion Water Company
Telephone: (203) 336-7651
[email protected]

Company Aquarion SOURCE


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Veronica J. Snell