California American Water to acquire East Pasadena Water Company
Following the completion of the sale, California American Water will become the new water provider to approximately 10,000 residents in Temple City, Arcadia and the East Pasadena area.
SAN DIEGO, CA, APRIL 30, 2019 -- California American Water, a subsidiary of American Water (NYSE: AWK), has entered into an agreement to acquire the assets of the East Pasadena Water Company. Following the completion of the sale, California American Water will become the new water provider to approximately 10,000 residents in Temple City, Arcadia and the East Pasadena area.
"We are pleased to have entered into a contract and look forward to serving customers in the East Pasadena Water Company service area," said California American Water's President Rich Svindland. "Our San Marino and Rosemead water systems are near East Pasadena so we know the area well. East Pasadena customers will be able to take advantage of our excellent conservation, rate assistance and customer service programs once the integration is complete."
East Pasadena Water Company is a privately owned class B utility located in Los Angeles County with a long history of serving the community. California American Water currently supplies water to more than 48,000 homes and businesses in Los Angeles and Ventura County. East Pasadena's customers will be served by California American Water's water treatment and distribution operators who are experts in their respective fields and are certified through the California State Water Resources Control Board's Division of Drinking Water.
"As a proud water provider to this community for more than 85 years, it was very important that our customers receive service from a company with local ties to the area," said Tony (Anton) Garnier, owner of the East Pasadena Water Company. "I believe that California American Water, with its long and distinguished service record in the area, will continue to provide the exceptional level of service and care our customers have come to expect. In short, I believe this is the right fit for our customers, the community and our employees," he added.
East Pasadena Water Company and California American Water Company will now file an application for approval of the transaction at the California Public Utilities Commission.
California American Water, a subsidiary of American Water (NYSE: AWK), provides high quality and reliable water and/or wastewater services to more than 690,000 California residents. Information regarding California American Water's service areas can be found on the company's website www.californiaamwater.com.
With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 7,100 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to more than 14 million people in 46 states and Ontario, Canada. American Water provides safe, clean, affordable and reliable water services to our customers to make sure we keep their lives flowing. For more information, visit www.amwater.com.