On May 21, California American Water, a subsidiary of American Water Works Company Inc. (NYSE:AWK), has completed its acquisition of the Mesa Del Sol water system in the Corral de Tierra area of Salinas.
This acquisition adds 15 new water connections to the company’s existing base of ~40,000 connections in Monterey County. It was made possible after the physical interconnection of Mesa Del Sol with California American Water’s Toro Park system.
A technician in a deep-water treatment facility, ensuring clean water for public safety.
This move aims to resolve long-standing water quality issues in the Mesa Del Sol area. Spencer Vartanian, Director of Operations for California American Water, stated that the company’s experience in providing water service throughout the Monterey Peninsula made them a natural fit for this consolidation. The acquisition will provide Mesa Del Sol residents with access to California American Water’s comprehensive services, which include a bilingual website, online billing & payment options, conservation programs, and affordability initiatives.
California American Water is the largest regulated water and wastewater utility company in the US that serves over 14 million people in 14 states and on 18 military installations with a history dating back to 1886. This acquisition is part of American Water Works Company Inc.’s (NYSE:AWK) broader strategy of expanding its operations through systematic acquisitions. In 2024, American Water Works completed 13 acquisitions that added 69,500 customers, and a total of 90,000 customers overall that year. American Water Works plans to invest between $40 billion and $42 billion from 2025 to 2034 in infrastructure repairs, replacements, system resiliency, and regulated acquisitions.
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This article is originally published at Insider Monkey.
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