‘Tuck-in’ Acquisitions Part of National Growth Strategy

Boise, ID, Nov. 02, 2018 (GLOBE NEWSWIRE) -- SUEZ, a global innovator in water and wastewater services, has filed an application with the Idaho Public Utilities Commission to acquire the Eagle Water system that serves approximately 20,000 people within the City of Eagle, Idaho, for $10 million.  The acquisition would fold Eagle into SUEZ’ existing Idaho operations that currently serves 240,000 people in Boise and the surrounding area and bring premier services to new customers.

“The water utility landscape continues to shift as small private and municipally-owned utilities seek out larger investor-owned companies to acquire their operations. The successful operation of and investment in critical infrastructure more than ever requires reliable and larger operators who can sustain systems well into the future,” said Eric Gernath, CEO of SUEZ North America. “Although there is no intent to expand operations in Idaho beyond Eagle Water at this time, this acquisition is part of a national strategy to grow the company’s portfolio by targeting water utilities in close proximity to existing operations.”

The acquisition would include significant upgrades to the Eagle system and service improvements for new customers:

• 24-hour automated monitoring of the system to ensure continuous service reliability and water quality
• Protection of water quality through chlorination
• The expertise and experience of certified water quality, production and distribution personnel
• A robust on-line customer web and billing site
• Greater access to capital investments necessary to maintain a water system for the long-term and economies of scale achieved by a larger company

“This acquisition signifies our continuing commitment to provide world-class services right here in Idaho,” said Marshall Thompson, Vice President and General Manager of the company’s Idaho operations.  “I look forward to the possibility that we will be serving more of our neighbors in the greater Boise area soon.”

Thompson added that current Idaho customers would also receive the benefit of nearly 13 million gallons a day of additional water supply.

“Substantially improving the availability of water supply in the area helps ensure continuous service, despite any effects that may arise from weather emergencies, climate change or regional growth,” said Thompson.  “Having redundancy is critical to all of our customers.”

 The sale of the system is subject to regulatory approval by the Idaho Public Utilities Commission and is expected to close sometime next year.  The Commission is the governing body that will determine and set rates for new customers. 

Rich Henning
SUEZ North America
207-767-2869
rich.henning@suez.com

Steve Goudsmith
SUEZ North America
201-225-6809
steven.goudsmith@suez.com

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