U.S. Private Water: Key Trends, M&A Activity, and Market Outlook, Q2 2024

15 May 2024
Available with corporate subscription

Bluefield recorded 21 approved deals during Q1 2024, marking the fewest deals approved in a quarter since 2019. High interest rates and inflation over the past two years have produced a shrinking pipeline of M&A applications among investor-owned utilities. With 105 applications currently in the works, 32% fewer applications are pending than at this time last year.

This Quarterly Review highlights key trends, transactions, and competitive shifts in the U.S. private water market. Bluefield’s team of water experts tracks mergers and acquisitions; service contract awards; and federal, state, and local policy developments on an ongoing basis to provide the most reliable and up-to-date insights for clients addressing opportunities in water.

In this Quarterly Review:

  • IOU deal flow cools to five-year quarterly low
  • Company rankings shift with closed Corix-SouthWest merger, Eversource-Aquarion Water divestment
  • Aqualia, USA Water deals highlight Texas’ growing O&M market
  • Public pushback mounting in Pennsylvania amid increased scrutiny of IOUs

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