Oregon-based NW Natural Water, a subsidiary of Northwest Natural Holding Company, has signed agreements to acquire six water utility systems and one water & wastewater management company.
NW Natural Water has agreed to acquire the assets which serve nearly 1,200 water distribution connections and manages 1,000 water and wastewater customers.
The acquisitions include the water systems of Spirit Lake East, Lynnwood, Diamond Bar Estates, and Bar Circle “S”, along with Water Works Management, all located in or around Coeur d’Alene, Idaho.
Along with the Idaho utilities, the company has signed agreements to acquire the water systems of Estates and Monterra in Sequim, Washington.
NW Natural Holdings president and CEO David H. Anderson said: “In this latest round of purchase agreements, we’re acquiring well-managed, well-positioned water systems in strategic locations with key expertise. Coeur d’Alene is ranked the fastest-growing metropolitan area in the fastest-growing state, and the Sequim acquisitions build on our existing footprint in Washington’s Puget Sound region.
“We’re excited to serve these communities and look forward to providing them safe, reliable and affordable service, just like we do every day for our other natural gas and water utility customers.”
The transactions are subject to several conditions that include approval from the Washington Utilities and Transportation Commission and the Idaho Public Utilities Commission. The company expects to close the acquisition in the summer of 2019.
In May 2018, the company signed agreements to acquire two water utilities, which are located on Whidbey Island near Seattle in Puget Sound, Washington State for undisclosed amounts.
The two utilities are namely Lehman Enterprises, that serves approximately 900 customers and Sea View Water that serves not more than 200 customers.
The company said that the assets and operations of Lehman and Sea View are managed under a newly-formed subsidiary of NW Natural Water. The acquisitions are part of its strategy to further expand into the regulated water utility sector.
Following the completion of all outstanding transactions, NW Water is expected to serve nearly 45,000 people through about 18,000 connections in the Pacific Northwest.