Cal Water Jumps on the Texas Bandwagon

14 Jun 2021
Available with corporate subscription

On 4 May 2021, California Water Service Group (Cal Water) announced the formation of a Texas subsidiary, Texas Water Service (TWSC). The San Jose-based investor-owned utility (IOU) acquired the majority of BVRT Utility Holding Company. TWSC ultimately has the right to acquire BVRT’s portfolio of wastewater systems that could serve as a platform to expand Cal Water in Texas.

In this Research Note:

  • Cal Water‘s expansion sharpens spotlight on Texas, IOU diversification
  • Outsiders ramp up utility ownership in Texas
  • First quarter IOU M&A activity signals uptick