California Water to Acquire Casa Loma Water and Palm Mutual Water Utility Assets

The main subsidiary of California Water Service Group (NYSE:CWT), California Water Service (Cal Water), has signed contracts to buy the water utility assets of Palm Mutual Water Company and Casa Loma Water Company.

An aerial view of an expansive reservoir and surrounding landscape supplying the utility’s water.

Casa Loma is located three miles from Cal Water’s Bakersfield Operations Center and provides service to roughly 900 residents through 248 customer connections. Palm Mutual serves 63 residential clients and is situated two miles from Cal Water’s Northeast Bakersfield Treatment Plant. The approval of the California Public Utilities Commission and other closing requirements are still pending for both purchases.

California Water Service Group (NYSE:CWT)’s Cal Water already has an intertie with the Casa Loma system, which enables uninterrupted water delivery following acquisition. Cal Water intends to improve system infrastructure and add new connections. Palm Mutual is currently supplied by a Cal Water master meter because it does not have its own water supply sources. Cal Water plans to improve service quality by investing in infrastructure renovations.

CEO Martin A. Kropelnicki of California Water Service Group (NYSE:CWT) stressed customer safety and service excellence, commenting:

“We look forward to providing our new customers the high level of service we provide to our other Bakersfield customers.”

Cal Water employs 1,200 people who are dedicated to honesty, sustainability, and infrastructure, and it provides services to 2.1 million people through around 500,000 connections.

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