American Water Works to acquire Shorelands Water Company
Financial and other terms of the sale were not disclosed. The agreement is subject to the review and approval of the New Jersey Board of Public Utilities.
Shorelands was first established in 1926 as a supplier to the summer residents of West Keansburg.
Under the guidance of the current owners since 1957, it grew to provide service to residents in the Bayshore communities of Hazlet, Holmdel, Union Beach, Keyport and Aberdeen. Shorelands delivers approximately two billion gallons of water to its customers annually.
When completed, the acquisition will continue the expansion of New Jersey American Water’s operations.
Earlier this year, American Water completed the acquisition of Environmental Disposal Corporation (which provides service in the Bernards and Bedminster area), and New Jersey American Water acquired the former Roxiticus Water Company (in Mendham Township) and began providing water and wastewater service to Elk Township.
New Jersey American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.7 million people. ■