California Water Service (CWT) Moves to Take Full Control of BVRT in Texas Expansion Push

California Water Service Group (NYSE:CWT) is included among the 14 Best Mid-Cap Dividend Stocks to Buy Now.

California Water Service (CWT) Moves to Take Full Control of BVRT in Texas Expansion Push

On January 8, California Water Service Group (NYSE:CWT), which already owns a majority stake in BVRT Utility Holding Company LLC (BVRT) through its subsidiary TWSC, Inc. (Texas Water), said it has agreed to buy the remaining ownership interests in BVRT. If completed, the deal would make the company the sole owner of BVRT’s seven water and wastewater utility subsidiaries serving the Austin–San Antonio corridor.

At the same time, BVRT has continued pushing further into Texas by pursuing new projects aimed at building and upgrading water and wastewater infrastructure across the region. Martin A. Kropelnicki, Group Chairman and CEO, made the following comment:

“The BVRT team has been an excellent partner as, together, we’ve brought safe, reliable utility service to these dynamic, growing communities over the past five years. As we expand and enhance our investment, operations, and service in the region, we look forward to more fully integrating the BVRT team into Group and Texas Water while pursuing additional, strategic opportunities that enable Texas Water Service to provide the best-in-class utility service our customers have come to expect.”

The Group said it expects to file a change-of-control application with the Public Utilities Commission of Texas (PUCT) in the near future as part of the process to acquire the rest of BVRT. The transaction still needs to meet standard closing conditions, along with approval from the PUCT and the Group’s board.

California Water Service Group (NYSE:CWT) operates as a holding company, providing water utility and related services across California, Washington, New Mexico, Hawaii, and Texas through its subsidiaries.

While we acknowledge the potential of CWT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CWT and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 13 Best Dividend Kings to Buy in 2026 and 14 Best Mid Cap Dividend Aristocrat Stocks to Buy Now

Disclosure: None.