BRYN MAWR, PA, Dec. 31, 2007 -- Aqua America Inc. announced that its subsidiaries in New Jersey and Florida have recently completed the purchase of one water system and two wastewater systems.
Aqua Utilities Florida Inc. paid $100,000 to acquire the assets of Jumper Creek Manor water and wastewater systems. Jumper Creek currently provides water and wastewater service to about 100 residents in Bushnell, Sumter County in central Florida where Aqua Utilities Florida operates other systems. The development, which is still under construction, is expected to serve approximately 500 residents once its three-year build out is complete.
Aqua New Jersey Inc. has completed the purchase of Stanton Ridge wastewater system which serves 500 residents in an upscale golf course community in Whitehouse Township, Hunterdon County, NJ for $50,000. Built in 1992, the assets are relatively new and well maintained.
"These purchases represent the typical, yet continuous stream of acquisitions we've been able to maintain over the past several years," said Aqua America Chairman and CEO Nicholas DeBenedictis. "We're proud that our professional management and technological expertise continues to make Aqua America the provider of choice for so many private owners looking to sell their assets."
Aqua America Inc. is a publicly traded water utility holding company, with operating subsidiaries serving approximately three million residents in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, New York, Indiana, Virginia, Florida, Maine, Missouri, and South Carolina. Aqua America is listed on both the New York and Philadelphia Stock Exchanges under the ticker symbol WTR.
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