Aquarion Water Co. to acquire Plainville-based NESC, owner of utilities in three states
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Putnam Reservoir in Greenwich, Conn.Tyler Sizemore / Hearst Connecticut MediaShow MoreShow Less
Officials with Aquarion Water Co. said Friday the Bridgeport-based utility has entered into a definitive agreement to acquire New England Service Co., a Plainville firm that operates water companies in Connecticut and two other states.
The agreement has been approved by both boards of directors and calls for all NESC employees to keep their jobs. The deal will add about 10,000 customers to Aquarion’s existing customer base of 216,000, which is spread across Connecticut, Massachusetts and New Hampshire.
New England Service Company To be Acquired by Aquarion Water Company
Region s largest private water company expands operations in Connecticut, Massachusetts and New Hampshire
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BRIDGEPORT, Conn., April 8, 2021 /PRNewswire/ Aquarion Company (Aquarion), parent of Aquarion Water Company, and New England Service Company (NESC) (OTC Pink Sheets Trading Symbol: NESW) today announced that they have entered into a definitive agreement whereby Aquarion will acquire all outstanding shares of NESC and NESC will become a wholly-owned subsidiary of Aquarion. Aquarion is a water supply company and holding company based in Bridgeport, Connecticut, providing regulated water service to customers in Connecticut, Massachusetts, and New Hampshire. NESC is a holding company based in Plainville, Connecticut providing regulated water service to customers in Connecticut, Massachusetts, and New Hampshire.