New Mexico Water Service to acquire Lake Section Water Company
(UI) — New Mexico Water Service, a subsidiary of California Water Service Group (Group), has signed an agreement to purchase the assets of Lake Section Water Company (Lake Section), a utility located in Chapparal, N.M.
The acquisition, which—when closed—would establish New Mexico Water as the largest investor-owned water and wastewater utility in the state, is subject to satisfaction of customary closing conditions and approval by the New Mexico Public Regulation Commission (Commission).
As part of the purchase, New Mexico Water will own and operate the Lake Section water system, which serves 5,000 customer connections about 110 miles south of New Mexico Water’s Elephant Butte system in the greater El Paso, Texas, metropolitan area.
“We are dedicated to providing quality, service, and value to all of our customers and appreciate Lake Section Water Company’s confidence in our team to provide the same service to its customers,” Martin A. Kropelnicki, president and CEO of New Mexico Water, said. “We also look forward to working with Lake Section and the Commission to complete the acquisition.”
Group has completed more than 18 acquisitions since 2019, which has added more than 42,000 water and wastewater customer connections. With the addition of closed and announced transactions, Group will be the largest investor-owned water utility in California, Hawaii, New Mexico, and Washington.
New Mexico Water Service provides high-quality, reliable water and/or wastewater services to about 20,000 people in its Rio Communities, Rio Del Oro, Meadow Lake, Indian Hills, Squaw Valley, Elephant Butte, Sandia Knolls, Juan Tomas, and Cypress Gardens systems through 10,740 service connections.
It is a subsidiary of California Water Service Group, the largest regulated water utility in the western United States. In total, Group serves more than 2 million people in California, Hawaii, New Mexico, Washington, and Texas through its regulated subsidiaries, California Water Service, Hawaii Water Service, New Mexico Water Service, and Washington Water Service, and its utility holding company, Texas Water Service.
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