PORTLAND, Ore.–(BUSINESS WIRE)–NW Natural Water Company, a wholly-owned subsidiary of Northwest Natural Holding Company, has agreed to purchase an ownership stake in Avion Water Company, the largest investor-owned water utility in Oregon. Avion Water operates in Bend and the surrounding communities, serving approximately 15,000 customer connections and employing 35 people.
“Our investment in Avion Water strategically expands our presence in Oregon and offers tremendous long-term growth and development opportunities,” said David H. Anderson, president and CEO of NW Natural Holdings. “We look forward to partnering with Avion and its management team, which has an excellent track record and reputation in the industry, and shares NW Natural’s values and its commitment to customers.”
Jan Wick, chairman of Avion Water, said, “Adding NW Natural Water as a shareholder reflects the high degree of trust and alignment between our two companies. We believe our partnership with NW Natural Water will provide additional financial strength, resources and expertise to support the next phase of growth for Avion Water, ensuring that we continue to meet the needs of the communities we serve.”
Avion Water’s existing management team, including president Jason Wick and CFO Rick Bailey, will continue to lead the company and manage day-to-day operations. The transaction is expected to close in December 2021.
About NW Natural Holdings
Northwest Natural Holding Company (NYSE: NWN) (NW Natural Holdings) is headquartered in Portland, Oregon and has been doing business for over 160 years in the Pacific Northwest. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), NW Natural Renewables Holdings (NW Natural Renewables), and other business interests. We have a longstanding commitment to safety, environmental stewardship and the energy transition, and taking care of our employees and communities. Learn more in our latest ESG Report.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2.5 million people in more than 140 communities through more than 780,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. NW Natural owns and operates 20 Bcf of underground gas storage capacity in Oregon.
NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest and Texas. With all pending acquisitions closed, NW Natural Water will serve approximately 140,000 people through over 58,000 connections. Learn more about our water business at nwnaturalwater.com.
Additional information is available at nwnaturalholdings.com.