Suez North America
| Company type | Subsidiary |
|---|---|
| Industry | Water services |
| Predecessor | Hackensack Water Company |
| Founded | 1869 |
| Headquarters | Paramus, New Jersey , United States |
Area served | United States |
Key people | Bertrand Camus (CEO, 2008) |
| Products | Water and wastewater utilities services |
Number of employees | 2300+ (2013) |
| Parent | Suez Environnement |
Suez North America is a water services provider based in the United States, with its headquarters located in Paramus, New Jersey. The company operates 16 water and wastewater utilities and administers 90 municipal systems through various public-private partnerships and contractual agreements. Employing more than 2,300 individuals, it reported revenues of $764 million in 2013 and managed assets valued at $3.2 billion. The organization began as Hackensack Water Company in 1869 and later adopted the name United Water. In 2000, it became a subsidiary of the French utility corporation Suez Environnement and updated its branding in 2015 to reflect its parent company's identity.
History
Established in 1869 under the name Hackensack Water Company, the enterprise originally provided services to Hackensack and North Hudson areas in New Jersey. Over time, it expanded its reach into additional northern New Jersey municipalities and developed significant reservoirs including Oradell and Lake DeForest. The company briefly supplied water to Hoboken before the city transitioned to Jersey City's water infrastructure.
In 1983, the company restructured as United Water Resources, Inc., and in 1994 acquired General Waterworks Corporation for $200 million. The acquisition of United Water by Suez Environnement occurred in 2000.
Bertrand Camus took on the role of CEO for Suez North America in 2008. By 2014, the company was recognized as the third largest U.S.-based provider of water treatment and supply services by Engineering News-Record.
In 2014, United Water obtained a $5.5 million tax incentive from the New Jersey Economic Development Authority to maintain its headquarters within the state amid considerations of relocation. Although planning to move from Harrington Park, the company ultimately remained in New Jersey, inaugurating a new North American corporate headquarters in Paramus during June 2015.
Water partnership model
At the 2012 Clinton Global Initiative, United Water pledged to collaborate with private investors and municipal governments to take over operations, maintenance, and capital improvement responsibilities of municipal water utilities. Initial projects included partnerships with Nassau County, New York and Bayonne, New Jersey. This strategy earned recognition as Partnership Performance of the Year at the 2012 American Water Summit.
Bayonne
In December 2012, United Water teamed with KKR to form Bayonne Water Joint Venture (BWJV), securing a 40-year concession contract with Bayonne's Municipal Utilities Authority. This public-private partnership involved BWJV assuming responsibility for paying off BMUA's $130 million debt along with managing operations, maintenance, and capital improvements of Bayonne's water and wastewater infrastructure in exchange for a regulated share of revenues. United Water manages day-to-day operations while KKR supplies 90% of the financing.
Nassau County
In June 2014, Nassau County entered into an agreement with United Water to operate its three wastewater treatment facilities and sewage collection network for a duration of 20 years. In return for managing these systems and generating at least $10 million in annual cost savings, Nassau County agreed to compensate United Water $57.4 million per year (adjusted for inflation). According to financial advisors PFM Group, this arrangement is projected to save $233.1 million over the contract period, potentially increasing to $378.9 million when factoring synergy savings such as decreased overtime and staff redeployment. Ownership of the wastewater system remains with Nassau County, which retains authority over utility rates that are not anticipated to rise.