A California company has closed its $1.1 billion acquisition of Connecticut Water, a Clinton-based utility that provides water services to more than 136,000 customers in Connecticut and Maine. The buyer, San Jose-based SJW Group, now claims 1.5 million customers across California, Connecticut, Maine and Texas. Connecticut’s Public Utilities Regulatory Authority (PURA) approved the acquisition in early September, attaching conditions that included keeping Connecticut employee counts level at a minimum headcount of 221 for the next three years. CTWS must also keep its regional headquarters and management team here, and has pledged customer bill credits and a rate freeze until 2021.
https://www.hartfordbusiness.com/article/sjw-closes-11b-deal-to-acquire-ct-water