Canaan sells municipal water system to Aquarion Water Company

Don Morrissey, president of Aquarion Water Company, announced Aug. 21 that the company intends to purchase Canaan’s municipal water system, which serves 124 customers.

CANAAN – Aquarion Water Company will purchase the Town of Canaan’s municipal water system, according to a statement from Aquarion issued Friday.

The acquisition was formalized through the signing of an Asset Purchase Agreement with the town in June, officials said, for $345,000. The purchase includes all existing water infrastructure in Canaan such as water mains, hydrants, storage tanks, and water supply wells. Upon approval from state regulators, Aquarion will begin providing water service to Canaan’s 124 customers, according to Aquarion.

“We’re pleased to have the opportunity to provide safe, high-quality drinking water to Canaan’s families and businesses,” said Donald Morrissey, president of Aquarion Water Company. “Through this acquisition, Aquarion will be able make prudent investments in Canaan’s infrastructure and deliver industry-leading customer service for years to come. We welcome Canaan customers to the Aquarion family.”

Since 2011, Aquarion has purchased and integrated 69 Connecticut water systems into its portfolio, strengthening the company’s ability to deliver high-quality water to communities throughout the state, Morriseey said..

“Canaan residents need to be able count on safe, quality water,” said Henry Todd, Canaan’s First Selectman. “That means having trained professionals on the job and reliable water infrastructure, with Aquarion, we’ll have both. Additionally, the proceeds from the sale can be used for important capital investments in our community."

Aquarion expects the transaction to close in the first quarter of 2021, following regulatory approvals with the Connecticut Public Utilities Regulatory Authority and the Connecticut Department of Public Health.

Connecticut Media Group