Southern Indiana Utility Acquired
CHARLESTOWN - Greenwood-based Indiana American Water has acquired Charlestown Water in Clark County. The more than $13 million deal will add about 2,900 customers to Indiana American Water's customer base.
The acquisition was approved last year by the Indiana Utility Regulatory Commission. The Charlestown system will be incorporated into the company's southern Indiana district, which serves about 100,000 residents.
"Indiana American Water already provides water to several nearby communities, so this is a good fit for us and a continuation of our efforts to help provide cost-effective solutions for communities all across Indiana," said Deborah Dewey, president of Indiana American Water. "Many communities like Charlestown are looking for new and innovative ways to deal with challenges they’re facing and hold the bottom-line on expenses, and this acquisition is a great solution for the utility and its customers."
Charlestown Mayor Bob Hall supported the acquisition, saying the community was facing "tremendous" capital costs to address water quality and infrastructure needs.
"This acquisition will help us to address these concerns at a lower overall cost than we would otherwise be able to do and also provide funds to help us address other pressing priorities in our community," said Hall. "We appreciate the experience, knowledge and resources that Indiana American Water brings to the table and look forward to working with them."