On 29 August 2022, Corix Infrastructure Inc. and SouthWest Water Company announced the merger of the two companies’ water and wastewater businesses, including Corix-owned Utilities, Inc. The transaction is expected to close by the end of 2023, consolidating utility assets serving over 1.3 million people across 20 U.S. states and two Canadian provinces. Corix’s district energy business and joint ventures are not included in the deal and will keep the Corix name.
In this Research Note:
- “Merger of equals” tilted heavily towards more acquisitive, integrated SouthWest
- SouthWest faces challenge of streamlining highly fragmented portfolio
- Changes atop the IOU leaderboard