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Be the first with the news that moves the market- Global Water Resources (GWR) has completed the previously-announced acquisition of Farmers Water Co
- Farmers Water Co. is a subsidiary of Farmers Investment Co. (FICO) whose service territory comprises approximately 22 square miles in Pima County, Arizona
- This has increased Global Water’s total active water service connections in Pima County to nearly 5,000
- Global Water Resources Inc. is a leading water resource management company that owns and operates 25 systems
- Global Water Resources Inc. was unchanged at C$18.94 at 12:47 PM ET
Global Water Resources (GWR) has completed the previously-announced acquisition of Farmers Water Co.
Farmers Water Co. is a subsidiary of Farmers Investment Co. (FICO), whose service territory comprises approximately 22 square miles located along the Interstate 19 growth corridor in Pima County, Arizona.
The acquisition adds approximately 3,300 active water service connections and 21.5 square miles of Certificate of Convenience and Necessity service area in the Town of Sahuarita
and the surrounding unincorporated area of Pima County.
This has increased Global Water’s total active water service connections in Pima County to nearly 5,000.
The primarily residential connections are in close proximity to the service areas of Global Water’s previously acquired Las Quintas Serenas, Francesca, Mirabell, and Red Rock water companies.
Farmers Water represents Global Water’s largest acquisition since Las Quintas Serenas in November 2021, its seventh acquisition in Pima County and the second in Sahuarita.
“We welcome Farmers Water to our growing family of companies,” stated Global Water Resources president and CEO Ron Fleming.
“We see significant opportunity to make capital improvements, such as deploying the same advanced metering infrastructure or meter upgrade project we completed last quarter at Las Quintas Serenas,” he added.
Global Water plans to implement its technology platform, which would include upgrading Farmers Water’s customer connections from manually-read metres to smart metres — a technology Global Water has successfully deployed many times.
Global Water also plans to enhance Farmers Water’s cybersecurity, led by Global Water’s VP of IT operations and security, Steven Brill.
Global Water Resources Inc. is a leading water resource management company that owns and operates 25 systems which provide water, wastewater, and recycled water services.
Global Water Resources Inc. was unchanged at C$18.94 at 12:47 PM ET.
