New Jersey company to buy Meadowbrook Water

California American Water Announces Intent to Purchase the Operating Assets of Meadowbrook Water Co.

CORONADO, Calif.--(BUSINESS WIRE)--Apr. 28, 2014-- California American Water has entered a binding Memorandum of Understanding (MOU) to acquireMeadowbrook Water Co.ofMerced, Inc.'s operating assets and to assume responsibility for providing domestic water services within Meadowbrook's service area inMerced County.

Meadowbrook is an investor-owned Class C Water Utility, regulated by theCalifornia Public Utilities Commission. The proposed acquisition will add approximately 1,650 new water service connections toCaliforniaAmerican Water's customer base. California American Water currently supplies water service to approximately 600,000 customers within ofCalifornia.

"As a result of this transition, Meadowbrook customers would have access to expanded customer services," said California American Water's Director of Northern California OperationsS. Audie Foster. "Our services include a 24-hour customer service center, web self-service, paperless billing, robust conservation and water efficiency programs and rebates and our H2O Help to Others Program, which provides Low Income Rate Assistance to customers such as seniors on low fixed-incomes and to families facing financial hardships."

"This is most certainly a positive step to securing long-term quality service for our current and future customers at Meadowbrook," saidMeadowbrook Water Co.CEODavid Walker.

Meadowbrook Water Co.and California American Water anticipate filing an application in fall of this year seeking approval from the CPUC. Final transfer of Meadowbrook's operations to California American Water is expected to take place in the spring of 2017.

California American Water, a subsidiary of American Water (NYSE: AWK), provides high-quality, reliable water and/or wastewater services to more than 600,000 people.

Founded in 1886, American Water is the largest publicly traded U.S. water and wastewater utility company. With headquarters inVoorhees, N.J., the company employs approximately 6,700 dedicated professionals who provide drinking water, wastewater and other related services to an estimated 14 million people in more than 30 states and parts ofCanada.

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Taxonomy

• Business Expansion
• Food & Beverage