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Eversource to buy Aquarion in $1.68 billion deal

Staff Writer | June 2, 2017
Eversource Energy announced Friday it has reached agreement to buy Aquarion Water Co. for $1.68 billion, combining New England's largest electric and gas utility with a dominant water company in Connecticut.
Eversource Energy
Acquisition   Eversource will be divesting itself of generation assets
The deal is the utility's "first foray" into owning a water company. It will operate Aquarion as a separate subsidiary and no job cuts are anticipated, she said.

The two companies share service territory in western Connecticut and other parts of the state in addition to areas in Massachusetts and New Hampshire.

Eversource will be divesting itself of generation assets in New Hampshire and the Aquarion acquisition is expected to replace those earnings, Pretyman said.

Since 2007, Aquarion has been owned by a partnership led by Macquarie Infrastructure Partners.