Northwest Natural Holding Co. subsidiary NW Natural Water Co. LLC agreed to acquire six water utility systems and one wastewater management company located in Idaho and Washington.
This acquisition would add another 1,200 water distribution connections to NW Water's distribution network, which currently served about 22,000 people through 7,400 connections, according to a March 22 news release.
The assets include the water systems of Spirit Lake East, Lynnwood, Diamond Bar Estates and Bar Circle "S"; and Water Works Management, in the area of Coeur d’Alene, Idaho. NW Water also agreed to acquire the water systems of Estates and Monterra in Sequim, Wash.
NW Water expects to close the acquisition in the summer of 2019, subject to closing conditions that include regulatory approval from the Washington Utilities and Transportation Commission and the Idaho Public Utilities Commission.
NW Water has already acquired four water distribution systems and has additional acquisitions pending. The company agreed to its first acquisition in the wastewater sector in October 2018. After the completion of these pending acquisitions, NW Water will serve about 45,000 people through 18,000 connections in the Pacific Northwest, with investments amounting to nearly $70 million.
"Coeur d'Alene is ranked the fastest-growing metropolitan area in the fastest-growing state, and the Sequim acquisitions build on our existing footprint in Washington's Puget Sound region," NW Natural Holding President and CEO David Anderson said in the release.
NW Natural Holding also owns Northwest Natural Gas Co., a natural gas distribution company that provides service to about 2 million people through over 750,000 meters in Oregon and southwest Washington.