NW Natural Water Broadens Its Scope by Acquiring Operations & Maintenance Businesses

NW Natural Water Company, LLC (NW Natural Water), a wholly-owned subsidiary of Northwest Natural Holding Company (NYSE:NWN), recently signed agreements that launch its water and wastewater services business through the acquisition of Hiland Water Corporation and King Water Company, which currently serve approximately 15,000 connections.

Through the services business, NW Natural Water plans to provide operations and management support to water and wastewater system owners, working to create value by leveraging shared personnel, technology and expertise to help deliver clean, reliable water at a reasonable cost to customers.

The formation of this new services business is a natural extension of the company’s water and wastewater utility ownership business. It provides an opportunity to create long-term value by continuing to broaden NW Natural Water’s scope, expand its footprint, and serve additional customers and systems.

“I’m excited about this opportunity to continue the expansion of our water and wastewater business and bring additional talent from Hiland Water and King Water into our organization,” said Justin Palfreyman, NW Natural Water’s president. “These two acquisitions provide a strong platform that we believe can be scaled in the coming years. They allow us to continue doing what we’re passionate about: serving water and wastewater utility customers with a keen focus on safety, reliability and superior service.”

Silas Olson, General Manager of Hiland Water said, “Joining the NW Natural Water family is an exciting step for our business. We believe our partnership with NW Natural Water will provide additional financial strength, resources and expertise to support more water and wastewater utilities as they meet the needs of their communities.”

Established in 1991, King Water Company is a top-rated local business based in Coupeville, Washington and has consistently served nearly 200 systems in Northwest Washington including Whidbey Island, Skagit and Snohomish counties. Operating since 1997, Hiland Water Corporation is based in Newberg, Oregon and has regularly served over 30 systems throughout Oregon. The NW Natural Water family has welcomed the companies’ collective 40 employees to their new water services business.

The King Water acquisition closed on April 30. Hiland Water, which also owns roughly 2,300 water utility connections, is expected to close later this year following receipt of regulatory approvals. Upon closing of all pending acquisitions, NW Natural Water will serve over 168,000 people through nearly 68,000 meters and support about 15,000 connections through its services business.