Aqua Pennsylvania Acquires W.P. Companies' Assets
Aqua America, Inc. announced on March 31 that its Pennsylvania subsidiary, Aqua Pennsylvania, Inc., acquired the assets of the W.P. Water Company, Inc. and W.P. Sanitary Company, Inc., which provides water and wastewater services to approximately 550 residents in the Washington Park Development in Wyoming County and the Sleepy Hollow Development in Luzerne County in a transaction valued at $185,000.
Aqua’s acquisition is a result of the company stepping up to aid state regulatory agencies and government officials to resolve ongoing service problems for customers of these systems, according to a news release. Aqua plans to invest approximately $1.2 million to replace and rehabilitate the wastewater treatment plant and $900,000 to upgrade the water treatment, supply, and distribution facilities. Additional improvements will be made to the wastewater collection system once the performance of the new wastewater treatment facility improves and demonstrates that its impact on the environment has been mitigated. The company has applied for low-interest loans through Pennsylvania’s Infrastructure Investment Authority, which is supported by Economic Stimulus Funds, to finance the required improvements.
“We are confident that the improvements we have planned will allow us to provide water and wastewater customers in Washington Park and Sleepy Hollow with the type of services they deserve,” said Aqua America Chair and Chief Executive Officer Nicholas DeBenedictis.