PORTLAND, Ore.–(BUSINESS WIRE)–NW Natural Water Company a wholly-owned subsidiary of Northwest Natural Holding Company recently completed two acquisitions and signed three additional agreements to acquire utilities near its existing service territories, furthering the company’s growth strategy in the water utility sector.
Closed acquisitions include Morning View Water Company in the Idaho Falls area and Del Bay Association in Freeland, Washington. In addition, NW Natural Water subsidiaries have executed the following acquisition agreements: Troy Hoffman Water Corporation in northern Idaho; Belle Oaks Water & Sewer Co. in southeast Texas; and Pelican Point Water Co. in Washington.
The recent and pending acquisitions reflect the continued traction of NW Natural Water’s growth strategy, and the company’s success in expanding its presence around the communities it serves.
“We’re excited to see NW Natural Water expand and grow across our service footprint through these tuck-in acquisitions. It demonstrates the value we can bring to the sector and the strength of our business and community relationships,” said Justin Palfreyman, NW Natural Water’s president. “We’re pleased to welcome these new customers into our family and provide them with clean, safe and reliable water and wastewater services. We look forward to enhancing customer service and investing in these communities for the future.”
When these acquisitions close, NW Natural Water will serve approximately 65,000 people through over 27,000 connections and is expected to have invested approximately $111 million in the water sector cumulatively.
“I’m pleased with our acquisition progress and our proven ability to operate these systems safely and reliably,” said David H. Anderson, NW Natural Holding’s president and CEO. “I look forward to continuing to actively pursue growth opportunities across the United States. As a result of our focus and efforts to date, NW Natural Water is well positioned for future growth.”
NW Natural Water remains focused on disciplined growth through acquisitions. In addition, NW Natural Water can provide utility services to new developments, master-planned communities, and other water and wastewater projects.
About NW Natural Holdings
Northwest Natural Holding Company, is headquartered in Portland, Oregon and has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company, NW Natural Water Company, and other business interests.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 770,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 20 Bcf of underground gas storage capacity in Oregon.
NW Natural Water currently provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. After pending acquisitions close, NW Natural Water will serve approximately 65,000 people through approximately 27,000 connections. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.
Contacts
Business Development Contact: Dave Gioia, 503-610-7366, dave.gioia@nwnatural.com
Investor Contact: Nikki Sparley, 503-721-2530, nikki.sparley@nwnatural.com