Harrington Park, NJ, Aug 01, 2008, 9:00 AM
United Waters parent company, SUEZ ENVIRONNEMENT North America, announced today that it has completed the acquisition of Utility Service Company of Perry, GA, the nations leading water tank maintenance service company, for $220 million. Utility Service also provides other asset management services such as sales and leasing of new tanks, and antenna site management for 2,000 municipalities and private water utilities in 35 states.
We are very excited that Utility Service Company will join the SUEZ ENVIRONNEMENT family because its core business is very complementary to ours, said Tony Harding, CEO of United Water, one of the nations leading water services companies, providing water and wastewater services to hundreds of municipal and industrial clients throughout the United States. We believe that this transaction creates business synergies that will enable both companies to offer a broader range of services to clients.
Under the terms of the agreement, the entire Utility Service management team will remain in place and the company will retain its brand identity. This is probably the greatest opportunity our team at Utility Service Company will ever have, said Carl Cummings, CEO of Utility Service Company. By sharing our talent, technology and commitment, we will have greater access to the marketplace which can create further growth opportunities for both companies.
United Water is subsidiary of the SUEZ ENVIRONNEMENT division of the GDF SUEZ Group, which supplies sustainable solutions for essential environmental services (water, wastewater treatment and waste services) to industrial and individual customers around the world. United Waters growth strategy is a key component in SUEZ ENVIRONNEMENTs strategy to expand its position in North America.
About United Water
United Water provides water and wastewater services to 7.3 million people in 21 states through the dedication of its 2,000 employees. In addition to owning and operating 25 regulated utilities, United Water operates 145 municipal systems through public-private partnerships and contract agreements including three of the nation''''s largest water and wastewater contracts: Indianapolis, IN, Gary, IN and Jersey City, NJ. Founded in 1869, United Water is a subsidiary of the SUEZ ENVIRONNEMENT division of the SUEZ Group.
About Suez Environnement
SUEZ ENVIRONNEMENT (Paris:SEV, Brussels:SEVB) and its affiliates deal with the challenge to protect resources by providing innovative solutions to industries and to millions of people. SUEZ ENVIRONNEMENT supplies drinking water to 68 million people, provides wastewater treatment services for 44 million people, and collects the waste produced by 46 million people. SUEZ ENVIRONNEMENT has 62,000 employees and, with its presence on a global scale, is the worlds leader exclusively dedicated to environmental services. In 2007, SUEZ ENVIRONNEMENT achieved sales revenue of 12 billion euros (19.2 billion USD). SUEZ ENVIRONNEMENT is a subsidiary owned at 35% by GDF SUEZ.
About Utility Service Company
Based in Perry, GA, Utility Service Company provides water storage tank maintenance services to close to 2,000 municipalities throughout 35 states in the U.S. Founded in 1963, the company has more than 4,000 long term service contracts serviced by a staff of 300 employees, which includes a national sales staff to expand the business. Utility Service Company has nine service centers across the country.