The third quarter of 2022 saw an uptick in activity from Q2 2022, with 46 acquisition approvals adding over 79,000 new connections. During the same period in 2021—a banner year for water M&A—there were just 33 deals approved and 19,157 connections added. As system owners face rising costs for maintaining environmental and regulatory compliance, Bluefield speculates a competitive M&A market is driving local players to capitalize on top-dollar purchase prices.
In this Quarterly Review:
- Flurry of Q3 approvals leads to busiest quarter of 2022
- Changes atop IOU leaderboard after SouthWest Water/Corix merger
- NW Natural carves out position in Arizona, heating up M&A activity in the state
- Utilization of fair market value legislation on the rise
- The Carolinas garner attention with IOUs competing to build out regional presence