Maryland American Water gets green light to acquire Severn Water Company for $1.6 million
(UI) — Maryland American Water has received approval from the Maryland Public Service Commission (PSC) to acquire the assets of Severn Water Company for approximately $1.6 million.
This marks the company's first acquisition under the state’s fair market value legislation, which was enacted by the Maryland General Assembly in 2018.
“We are pleased with the PSC’s order and look forward to welcoming the 1,685 customers previously served by the Severn Water Company to Maryland American Water,” said Barry Suits, president of Maryland American Water. “They will benefit from our company’s stellar record of performance in water quality and safety.”
Severn Water Company agreed to sell its water system in November 2023, citing the need for more expertise in water management. Maryland American Water has a history of infrastructure investment, having put $3.5 million into its system serving the Town of Bel Air last year.
“Selling to Maryland American Water is the right decision,” said Stephanie Metz, a representative for Severn Water Company. “Their experience and commitment to providing clean, reliable water make them the right partner.”
Maryland American Water will soon inform Severn Water Company customers about services and programs, including enrollment in the company’s online customer portal, MyWater. They also offer assistance programs and conservation tips.
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