California American Water to acquire East Pasadena Water
Water utility industry news : American Water’s subsidiary California American Water has agreed to acquire the assets of the East Pasadena Water for an undisclosed price.
Upon completion of the sale, California American Water will become the new water provider to nearly 10,000 residents in Temple City, Arcadia, and also the East Pasadena area.
Rich Svindland – president of California American Water, commenting on California American Water acquisition of East Pasadena Water, said: “We are pleased to have entered into a contract and look forward to serving customers in the East Pasadena Water Company service area. Our San Marino and Rosemead water systems are near East Pasadena so we know the area well. East Pasadena customers will be able to take advantage of our excellent conservation, rate assistance and customer service programs once the integration is complete.”
East Pasadena Water is a privately owned class B water utility company in Los Angeles County. Currently, California Water Company supplies water to over 48,000 homes and businesses in Los Angeles and Ventura County. On the completion of the acquisition, East Pasadena’s customers will be served by water treatment and distribution operators of California American Water.
Commenting on California American Water acquisition of East Pasadena Water, Tony Garnier – owner of the East Pasadena Water, said: “As a proud water provider to this community for more than 85 years, it was very important that our customers receive service from a company with local ties to the area.
“I believe that California American Water, with its long and distinguished service record in the area, will continue to provide the exceptional level of service and care our customers have come to expect. In short, I believe this is the right fit for our customers, the community and our employees.”
The two water companies will seek approval for the transaction from the California Public Utilities Commission.
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