California Water Service to purchase Nexus Water Group systems

California Water Service (CWT) announced that it has reached an agreement to purchase Nexus Water Group’s Nevada and Oregon water and wastewater systems, adding approximately 36,000 equivalent residential connections and a combined rate base of approximately $109M at December 31, 2025. “This is a great way to kick off our centennial year. We started out serving four small California communities in 1926, and with this acquisition, we will serve roughly two million people through approximately 584,000 service connections in seven western states. We look forward to completing the transaction and integrating the systems in a way that provides opportunities for employees and excellent service to customers,” said chairman and CEO Martin Kropelnicki. The purchase price of approximately $218M which is subject to typical closing adjustments, will be funded with working capital and existing debt and equity facilities. The company expects to complete the transaction by the end of 2026.