Indiana American Water Adds Utility CompanyPosted: Updated:
Greenwood-based Indiana American Water has acquired a Sullivan County utility. The deal for Merom Water is valued at nearly $400,000. March 11, 2014
GREENWOOD, Ind. - Indiana American Water President Alan DeBoy today announced the company's acquisition of Merom Water, a municipal water utility located in western Indiana. The purchase of the system adds approximately 125 customers to the company's customer base and serves a population of approximately 250 residents.
"The acquisition of this system will provide Merom customers with lower rates and access to operations and capital management water professionals and a convenient customer service center that is available 24/7," said DeBoy. "Indiana American Water already provides water to several communities in this part of the state, so this is a good fit for us and a continuation of our efforts to expand our presence across Indiana.
"In a time when communities are looking for new and innovative ways to deal with challenges they’re facing and hold the bottom-line on expenses, this acquisition is a great solution for the utility and its customers," DeBoy continued. "Indiana American Water brings a broad range of experience, resources and knowledge to the community through this transaction that ultimately will have a positive impact on the area."
The acquisition of the Merom system for approximately $390,000 was approved by the Indiana Utility Regulatory Commission in January 2014 and finalized by Indiana American Water and the Merom Water on March 10, 2014. The Merom system will be incorporated into the company's Terre Haute/Sullivan operating district, which currently serves approximately 85,000 residents.
About Indiana American Water
Indiana American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to more than 1.2 million people. Founded in 1886, American Water (NYSE: AWK) is the largest publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs approximately 6,600 dedicated professionals who provide drinking water, wastewater and other related services to an estimated 14 million people in more than 40 states and parts of Canada. More information can be found at www.amwater.com.
Source: Indiana American Water