Aquarion completes acquisition of The Torrington Water Company
The Aquarion Co. – which along with its subsidiaries provides water to more than 750,000 people in 72 Connecticut, Massachusetts and New Hampshire communities – announced Monday morning that it has completed its acquisition of The Torrington Water Co.
The merger adds about 10,100 customers to Aquarion’s base of 226,000 customers, the company said. Aquarion is a subsidiary of utility giant Eversource.
The deal was structured as a stock-for-stock tax-free reorganization for U.S. federal income tax purposes, the company said. Torrington Water has assets just under $70 million.
The acquisition comes after the deal received approval from the Connecticut Public Utilities Regulatory Authority and the boards of directors of both Aquarion and Torrington Water, as well as Torrington Water stockholders.
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