NW Natural Expands Into Water Via M&A
NW Natural announced that it has entered into agreements to acquire Salmon Valley Water Company and Falls Water Company, two privately owned water utilities in the Northwestern U.S.
The acquisitions mark NW Natural’s first foray into the regulated water utility sector. The purchase of the Salmon Valley system has enabled NW Natural to carve out a small position in water in its home state, adding to its existing, large customer base for gas services.
The water utility market provides attractive opportunity for utility outsiders. Bluefield estimates the total value of significantly financially stressed community water systems in the U.S. at US$2.38 billion.