By Connor Hart

American Water Works agreed to acquire several water and wastewater systems from Nexus Regulated Utilities for approximately $315 million.

American Water Works said Monday that the deal would add more nearly 47,000 customer connections across eight states, expanding upon the company's existing foodprint in Illinois, Indiana, Kentucky, Maryland, New Jersey, Pennsylvania, Tennessee and Virginia.

Chief Executive John Griffith said the deal exemplifies the company's core growth strategy. "We believe this expansion will lead to even more growth in those states as communities continue to look for water and wastewater solutions," he said.

The transaction, expected to close by or before August 2026, will require regulatory approval by the state public utility commissions in applicable states, as well as other customary approvals from governmental entities, American Water Works said. It added that the purchase price is subject to adjustments.

American Water Works will offer employment to approximately 70 employees of Nexus whose positions are located in the areas included in the deal. Nexus Regulated Utilities is a subsidiary of Nexus Water Group.

"This agreement with American Water will allow Nexus Water Group to focus on a smaller core geography where we are better poised to grow and efficiently serve our customers," Nexus Chief Executive Rob MacLean said.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 19, 2025 16:38 ET (20:38 GMT)

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