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Aqua America acquires wastewater assets in Pennsylvania

Aqua Pennsylvania Inc. completed the acquisition of the 5,400-connection wastewater assets of Limerick Township, Pa., for $75 million.

The deal marks the Aqua America Inc. subsidiary's first acquisition under Act 12 or the state's fair market valuation legislation, which encourages consolidation in a fragmented water and wastewater industry, according to a July 25 news release.

Aqua America said it has several fair market value asset purchase agreements in place, which will result to approximately 23,000 new customer connections upon completion.