American Water subsidiary to acquire water system in New Jersey for $19.7M

New Jersey American Water (AWK) announced it signed an agreement to acquire the water system in South Orange Village for $19.7M. This announcement follows a referendum vote in November of 2024 in which 62% of South Orange voters approved the sale of the system. The South Orange water system serves approximately 5,000 customer connections. As part of the agreement, New Jersey American Water will invest $50M in infrastructure improvements within the first 10 years of ownership.