Global Water Resources Inc., a water resource management company, has completed its acquisition of two small water utility companies, Twin Hawks Utility Inc. and Rincon Water Company.
Both of the utility companies operate within Ariz.: Twin Hawks is located in Pinal County and Rincon in Pima County. The acquisitions add about 93 water connections to Global Water Resources’ portfolio.
“We welcome Twin Hawks and Rincon to our expanding portfolio of water utilities in Arizona,” said Ron Fleming, Global Water Resources president.
Twin Hawks is located near an existing Global Water operational hub, facilitating an easy integration into Global Water’s platform. Twin Hawks provides water service to an airpark in Pinal County. Over 90 percent of Global Water’s current connections are in Pinal County.
Twin Hawks and Rincon represents the company’s tenth and eleventh acquisition since 2017.
Rincon continues Global Water’s expansion in Pima County, the same county where Global Water acquired four water utilities in 2020 and another last year. Rincon has encountered regulatory challenges that require infrastructure evaluations and enhancements. Global Water hopes it can help these facilities meet state regulatory requirements.
“The close proximity of these facilities made them a logical extension to our service footprint, and we view them both as low-risk tuck-in acquisitions,” said Chris Krygier, chief strategy officer for Global Water Resources. “We will continue to seek additional acquisitive opportunities that are synergistic to our growing portfolio of water utility companies, and especially those which would be beneficial to the communities we serve. We are currently in discussions with a number of utilities that fit this profile."
