New Mexico Water Enters Into Agreement to Acquire Animas Valley Water System
New Mexico Water, a subsidiary of California Water Service Group (Group), has signed a purchase agreement with Animas Valley Land and Water Co., LLC (AV Water) and court-appointed receiver C. Randel Lewis to acquire the Morning Star Water System assets of AV Water and provide regulated water utility service to its approximately 2,000 customer connections in northwest New Mexico.
The purchase is subject to customary closing conditions, including approvals of the San Juan County Court and the New Mexico Public Regulation Commission, as well as successful completion of AV Water’s pending rate case. If approved, the transaction is expected to close in early 2021.
“We appreciate the confidence in New Mexico Water to provide a reliable supply of safe, high-quality water to AV Water customers,” said Group’s President and Chief Executive Officer Martin A. Kropelnicki. “We look forward to providing AV Water customers the same quality, service, and value that we are committed to delivering to all of our customers, as we continue through the due diligence and approval process.”