Indiana American Water completes acquisition

GREENWOOD, Ind. (Inside INdiana Business) — Indiana American Water has finalized its acquisition of the town of Riley’s wastewater system in western Indiana. The system purchase adds about 460 customers to the company’s base, with a population of over 1,240 residents. 

“The acquisition of this system will help hold rates down for Riley customers over the long term as needed investments are made and also provide access to operations and capital management water professionals and a number of customer service options and payment methods,” said Indiana American Water President Matt Prine. 

Riley Town President, Clayton White, says he’s pleased with the acquisition.

“Our town has other pressing priorities and lacks the technical expertise or resources to continue running a sewer utility, especially given increasing environmental regulations,” said White. “This acquisition will help us to address these concerns while also providing future rate stability by keeping our sewer rates lower than they would have been under municipal ownership, making needed improvements to the system, and generating additional property tax revenues.”

The over $1.5 million acquisition price was approved by the Indiana Utility Regulatory Commission last month. Riley’s system will be incorporated into IAW’s Terre Haute district.