Acquistion could result in operational jobs in Connecticut
Posted on April 23, 2011
A freshly-completed acquisition could signal the creation of operational jobs in Connecticut.
The Connecticut Water Company (CWC), a wholly owned subsidiary of Connecticut Water Service, Inc., announced today that it has completed the acquisition of the Green Springs Water Company in Madison, Connecticut.
According to Terrance P. O’Neill, CWC’s Vice President, Service Delivery, the Green Springs water system is a well maintained system in good condition. He states, “The owners of Green Spring Water Company took great pride in their system and routinely invested in its infrastructure, and the water quality is very good. It was the increasing complexity of operating a public water system and the costs of hiring a contract operator to manage the system that were key drivers in their decision to transfer ownership of the system to CWC.” Connecticut Water has the staff and resources to provide technical expertise, operational experience, and customer service to the customers of the system.
The Green Springs system serves more than 25 customers, or an estimated population of about 90 people. Connecticut Water already serves more than 3,500 customers, or a population of more than 12,000 people in Madison, including the Ryerson Elementary and Brown Middle schools and the Legend Hill Condominium Association, which are served by the Legend Hill System that was acquired in 2009. Mr. O’Neill states that future investments in the Green Spring water system will include the installation of a generator for back-up power and customer water meters.
Connecticut Water Company serves nearly 300,000 people in 55 towns in Connecticut. The towns served include: Ashford, Avon, Beacon Falls, Bethany, Bolton, Brooklyn, Burlington, Canton, Chester, Clinton, Colchester, Columbia, Coventry, Deep River, East Granby, East Haddam, East Hampton, East Windsor, Ellington, Enfield, Essex, Farmington, Griswold, Guilford, Hebron, Killingly, Killingworth, Lebanon, Madison, Manchester, Mansfield, Marlborough, Middlebury, Naugatuck, Old Lyme, Old Saybrook, Plainfield, Plymouth, Portland, Prospect, Somers, South Windsor, Stafford, Stonington, Suffield, Thomaston, Thompson, Tolland, Vernon, Voluntown, Waterbury, Westbrook, Willington, Windsor Locks and Woodstock.