PORTLAND, Ore.–(BUSINESS WIRE)–NW Natural Water Company, a wholly-owned subsidiary of Northwest Natural Holding Company, recently signed agreements to acquire water and wastewater utilities serving more than 2,800 customers across four states with key additions to its newly acquired Arizona territory and rapidly-growing Texas utilities.
Notably, NW Natural Water plans to expand its footprint in Arizona with the acquisition of the Truxton Canyon Water and Cerbat Water utilities, which serve approximately 1,350 water customers near Kingman. The Texas footprint also is expected to grow by approximately 1,000 customers as NW Natural Water signed an agreement to acquire Everett Square in Conroe and has agreed to support Venterra Realty Management as it builds out the water and wastewater infrastructure for a new multi-family development on the west side of Houston. After Venterra completes the development, NW Natural Water plans to own and operate the water and wastewater infrastructure. Additional agreements were signed to acquire the Pedersen water utility system in Washington and the Idaho Club water and wastewater utilities in Idaho.
“I’m pleased with the growth and development of our water and wastewater utility platform to date, the opportunities in the regions we’re currently in, and our ability to continue growing through acquisitions in areas adjacent to our existing territories,” said Justin Palfreyman, NW Natural Water’s president. “We’re continuing to execute on our strategy to build a water and wastewater utility business focused on safety, reliability and superior customer service.”
The acquisitions are subject to customary closing conditions, including approval by the state utility commissions in Arizona, Texas, Washington and Idaho, respectively, and are expected to close in 2023. Upon closing of all pending acquisitions, NW Natural Water will serve over 160,000 people through approximately 65,000 connections across five states.
About NW Natural Holdings
Northwest Natural Holding Company (NYSE: NWN) is headquartered in Portland, Oregon and has been doing business for over 160 years. It owns NW Natural Gas Company (NW Natural), NW Natural Water Company (NW Natural Water), NW Natural Renewables Holdings 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 through more than 790,000 meters with one of the most modern pipeline systems in the nation and consistently leads the industry with high J.D. Power & Associates customer satisfaction scores.
NW Natural Water currently provides water distribution and wastewater services to communities throughout the Pacific Northwest, Texas and Arizona. Learn more about our water business at nwnaturalwater.com.
