Indiana American Water acquires southeast Indiana utility
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Greenwood-based Indiana American Water is adding to its portfolio with the acquisition of the Sunset Village water system in Charlestown. The $150,000 deal will add approximately 100 water customers in a small community along the Ohio River to the utility’s customer base.
The water system serves the Bushman’s Lake community, which represents approximately 270 residents. Indiana American Water President Matt Prine says the deal will bring benefits to customers.
“The acquisition of this system will help hold future rates down for Sunset Village customers as needed investments are made and also provides access to operations and capital management water professionals and a number of customer service options and payment methods,” Prine said in a news release. “Indiana American Water already provides water service to several nearby communities, so this is a good fit for us and a continuation of our efforts to expand our presence across Indiana.”
Indiana American Water closed on the deal on Tuesday. Former Sunset Village owner Tina Beckort echoed the sentiment that the new ownership will help keep water rates lower.
“The business of providing water is getting more complicated every day, especially for smaller systems like ours that struggle with evolving regulatory issues and not having the scale to gain efficiencies in our operations,” said Beckort. “The sale will also facilitate much needed future improvements to the system and ensure that area residents have the service and water quality they need and deserve.”
It was not clear if any jobs would be affected by the acquisition.