Global Water Resources To Acquire Seven Water Systems From Tucson Water, Adding 2,200 Customer Connections; No Financial Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
Global Water Resources, Inc. (GWRS) is set to acquire seven water systems from Tucson Water, adding 2,200 customer connections in Pima County. This acquisition, pending approval by the Arizona Corporation Commission, is expected to be completed early next year. It aligns with GWRS's growth strategy and will increase their total customer base in the area to 7,200. The company plans to integrate these systems with its existing utilities, modernize them with advanced metering infrastructure (AMI), and implement best practices for water management.
May 07, 2024 | 12:51 pm
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Global Water Resources, Inc. (GWRS) is acquiring seven water systems from Tucson Water, which will add 2,200 customer connections in Pima County, aligning with its growth strategy and enhancing its service offerings.
The acquisition of seven water systems from Tucson Water is a significant strategic move for GWRS, directly impacting its asset base and customer reach in Pima County. This expansion is likely to be viewed positively by investors as it aligns with the company's growth strategy and commitment to modernizing water management systems with advanced technologies like AMI. The integration of these systems and the planned modernization efforts are expected to enhance GWRS's service offerings and operational efficiency, potentially leading to increased revenue and a stronger market position in the region.
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