Connecticut Water Service, Inc.
| Company type | Public company |
|---|---|
| Industry | Water utility |
| Founded | February 1, 1956 in Clinton, Connecticut, United States |
| Defunct | October 9, 2019 |
| Fate | Acquired by SJW Group |
| Headquarters | Clinton , United States |
Area served | Connecticut, Maine |
| Products | Water supply, drainage, sewage treatment |
Connecticut Water Service, Inc. was a regulated water company headquartered in Clinton, Connecticut, providing services across Connecticut and Maine under several different brand names. The company became part of the SJW Group following an acquisition completed in October 2019.
Business
The company managed and maintained water supply, drainage, and sewage treatment infrastructure in both Connecticut and Maine. Within Connecticut, it operated under the names Connecticut Water, Heritage Village Water, and Avon Water, while in Maine it was known as Maine Water.
History
Established on February 1, 1956, Connecticut Water Service was listed on the NASDAQ stock exchange with the ticker symbol CTWS.
In October 2018, the firm revealed plans to be acquired by the SJW Group, a water utility based in San Jose, subject to regulatory approval. Although Eversource Energy, which serves large portions of New England including areas overlapping with Connecticut Water’s territory, submitted a competing offer, Connecticut Water’s board endorsed the SJW Group’s proposal.
To complete the transaction, SJW Group formed Hydro Sub, Inc., a subsidiary created specifically for this purpose; this entity was dissolved on October 9, 2019, following the merger’s finalization.