Global Water Resources, a pure-play water resource management company, has completed its previously announced acquisition of two small water utility companies, Twin Hawks Utility, Inc. and Rincon Water Company.
Twin Hawks is located in Pinal County and Rincon is in Pima County. The acquisitions add approximately 93 water connections.
“We welcome Twin Hawks and Rincon to our expanding portfolio of water utilities in Arizona,” stated Global Water Resources president and CEO, Ron Fleming. “For both facilities, we have begun to implement our industry-leading approach to utility consolidation and operations, which promotes compliance, safety, and better water usage for the benefit of all stakeholders.”
Twin Hawks is located near an existing Global Water operational hub, facilitating an easy integration into Global Water’s platform. Twin Hawks provides water service to an airpark in Pinal County. Over 90% of Global Water’s current connections are in Pinal County.
Twin Hawks and Rincon represents the company’s tenth and eleventh acquisition since 2017. They reflect the company’s renewed focus on acquisitions, given the significant opportunities and the benefits of consolidation for Arizona. The Arizona Corporation Commission (ACC) website lists more than 300 investor-owned water and wastewater utilities operating in the state.
Rincon continues Global Water’s expansion in Pima County, the same county where Global Water acquired four water utilities in 2020 and another last year. Rincon has encountered regulatory challenges that require infrastructure evaluations and enhancements. Global Water brings technical expertise and state-of-the-art technology solutions that can help these facilities meet state regulatory requirements. The requirements help ensure that local communities have access to safe and environmentally sustainable water services.
“The close proximity of these facilities made them a logical extension to our service footprint, and we view them both as low-risk tuck-in acquisitions,” noted Chris Krygier, chief strategy officer for Global Water Resources. “We will continue to seek additional acquisitive opportunities that are synergistic to our growing portfolio of water utility companies, and especially those which would be beneficial to the communities we serve. We are currently in discussions with a number of utilities that fit this profile.”