Aqua America Inc. headquartered in Bryn Mawr, PA has purchased the Delaware County Regional Water Authority (DELCORA) for $276.5 million.
Acquiring such a large water system was a rare opportunity for Aqua. DELCORA has over 165,000 retail customer throughout the region, many of whom will need major upgrades, which could have a great return on investment for Aqua shareholders.
DELCORA’s Executive Director, Robert Willert, explained why his company chose Aqua over other water utility companies stating, “What really made sense was to work with somebody who’s here, they have a lot of the same customers, and they’re a great neighbor and great utility.”
It was also announced that all of DELCORA’s current employees will work for Aqua.
Many companies in our region consolidate to create a stronger and more impactful operation. This summer, Virtua Health acquired Our Lady of Lourdes Medical Center in Camden, NJ and Lourdes Medical Center of Burlington County, NJ in an effort to consolidate and strengthen the health care system throughout the Garden State.