Kentucky American Water Completes Purchase of Two Water Utility Systems, Part of Nexus Water Group Systems

American Water (NYSE: AWK) announced that subsidiary Kentucky American Water has completed purchasing the Water Service Corporation of Kentucky systems from Nexus Regulated Utilities, part of Nexus Water Group.

Rhea-AI Summary

American Water (NYSE: AWK) announced that subsidiary Kentucky American Water has completed purchasing the Water Service Corporation of Kentucky systems from Nexus Regulated Utilities, part of Nexus Water Group.

The deal adds about 7,600 customer connections, including 6,300 new customers in Clinton and Middlesboro, plus 13 employees, with regulatory approvals finalized May 21, 2026 and closing on June 1, 2026.

Positive

• Acquisition adds approximately 7,600 customer connections in Kentucky
• Kentucky American Water gains about 6,300 new customers in Clinton and Middlesboro
• Approximately 13 employees join Kentucky American Water operations
• Regulatory and governmental approvals finalized on May 21, 2026
• Purchase of Nexus Kentucky systems completed on June 1, 2026
• Part of broader strategy to acquire Nexus Water Group systems in eight states

Negative

• None.

Argus Jun 2 session

+2.11% close to close 1.2x rel. volume Open Argus

Details

News Market Reaction – AWK

On Jun 2, the first trading day after this news, AWK closed 2.11% above the previous close.

Data tracked by StockTitan Argus for the Jun 2 session.

Key Figures

New customer connections: approximately 7,600 New employees: approximately 13 New customers referenced: 6,300 +3 more

New customer connections

approximately 7,600

Added in Clinton and Middlesboro, Kentucky systems

New employees

approximately 13

Employees joining from Water Service Corporation of Kentucky

New customers referenced

6,300

Customers Kentucky American Water president highlighted in remarks

States in Nexus deal

8 states

Scope of Nexus Water Group systems to be acquired

Regulatory approvals date

May 21, 2026

Date approvals by applicable commissions were finalized

Acquisition close date

June 1, 2026

Date American Water completed the purchase

Historical Context

5 past events · Latest: May 28

5 events

1. May 28

   Water quality report

   24h Move

   -1.2%

   Iowa reports showed drinking water met or surpassed all standards.

2. May 26

   Facility expansion

   24h Move

   -1.1%

   West Virginia training center opened to support reliability and workforce.

3. May 21

   Water quality report

   24h Move

   +1.2%

   Illinois reports confirmed compliance and highlighted lead line replacements.

4. May 21

   Community grants

   24h Move

   +1.2%

   New Jersey grants of about $50,000 to 21 fire and EMS departments.

5. May 20

   Capex announcement

   24h Move

   -0.8%

   California American Water planned $277 million in 2026 infrastructure investment.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

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LEXINGTON, Ky., June 1, 2026 /PRNewswire/ -- Kentucky American Water, a subsidiary of American Water Works Company, Inc. (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., announced today the completion of its acquisition of the Water Service Corporation of Kentucky that includes two water systems from Nexus Regulated Utilities, LLC, a subsidiary of Nexus Water Group, Inc. ("Nexus Water Group").

The acquisition adds a total of approximately 7,600 customer connections in Clinton and Middlesboro, Ky., to Kentucky American Water's footprint. Additionally, Kentucky American Water is welcoming to its operations approximately 13 employees from Water Service Corporation of Kentucky who have proudly provided water and wastewater service to these customers.

"On behalf of our entire team at Kentucky American Water, we are delighted to welcome our new customers and new employees to the Kentucky American Water family," said Rob Burton, president of Kentucky American Water. "We look forward to serving our 6,300 new customers and helping to ensure a smooth transition by relying on the expertise of local employees who know these operations best. Our team is committed to providing safe, clean, reliable, and affordable water and wastewater services to the communities we serve."

On May 19, 2025, American Water announced its agreement to acquire Nexus Water Group systems in eight states across the U.S., highlighting benefits for customers and demonstrating the company's successful implementation of its core growth strategy as it creates value for customers, employees, and shareholders.

Approvals by applicable state regulatory commissions and governmental entities were finalized on May 21, 2026, and American Water completed the purchase on June 1, 2026.

Kentucky American Water is committed to ensuring a seamless transition for its new customers who will receive additional information in the mail in the coming weeks. The information is also available now on a new, dedicated webpage on the company's website under Customer Service and Billing.

New customers will be able to take advantage of Kentucky American Water's robust customer service benefits, including its online account management portal, MyWater, as well as flexible payment options and customer assistance programs for qualifying customers needing help paying their bills.

About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886 and celebrating 140 years in 2026, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to approximately 14 million people with regulated operations in 14 states and on 18 military installations. American Water's approximately 7,000 talented professionals leverage their significant expertise and the company's national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.

For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.

About Kentucky American Water
Kentucky American Water, a subsidiary of American Water (NYSE: AWK) with approximately 150 dedicated employees, provides safe, clean, reliable and affordable water and wastewater services to approximately 550,000 people.

For more information, visit Kentucky American Water's website and join Kentucky American Water on Facebook, X and Instagram.

Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to, among other things, anticipated capital investments and the ability to achieve certain benefits, synergies and goals relating to the acquired operations. These statements are based on the current expectations of management of American Water. There are a number of risks and uncertainties that could cause actual results to differ materially from these forward-looking statements, including with respect to (1) the occurrence, in whole or in part, of the plans, benefits and synergies expected or predicted to occur as a result of the acquisition; (2) unexpected costs, liabilities or delays associated with the integration of the acquired operations; (3) regulatory, legislative, local or municipal actions affecting the water and wastewater industries, which could adversely affect American Water; and (4) other economic, business and other factors. Forward-looking statements are not guarantees or assurances of future performance or results, and American Water does not undertake any duty to update any forward-looking statement. The foregoing factors should not be considered to be exclusive.

View original content to download multimedia:https://www.prnewswire.com/news-releases/kentucky-american-water-completes-purchase-of-two-water-utility-systems-part-of-nexus-water-group-systems-302787536.html

SOURCE American Water

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did American Water (NYSE: AWK) announce on June 1, 2026 about Kentucky American Water?

American Water announced that Kentucky American Water completed buying two Kentucky water systems from Nexus Water Group. According to American Water, the acquisition covers Water Service Corporation of Kentucky systems in Clinton and Middlesboro, expanding the company’s regulated water footprint in the state.

How many new customers and connections does the Nexus Water Group deal add for Kentucky American Water (AWK)?

The deal adds about 7,600 customer connections and 6,300 new customers to Kentucky American Water. According to American Water, these customers are located in Clinton and Middlesboro, Kentucky, strengthening the subsidiary’s customer base and operational scale in the region.

When were regulatory approvals and closing completed for American Water’s acquisition of Nexus Water Group’s Kentucky systems?

Regulatory and governmental approvals were finalized on May 21, 2026, with closing on June 1, 2026. According to American Water, these approvals covered the purchase of the Water Service Corporation of Kentucky systems by its Kentucky American Water subsidiary.

How does the Kentucky American Water acquisition fit American Water’s growth strategy (NYSE: AWK)?

The transaction forms part of American Water’s wider agreement to acquire Nexus Water Group systems in eight states. According to American Water, this supports its core growth strategy aimed at creating value for customers, employees, and shareholders in regulated utility markets.

What happens next for new Kentucky American Water customers gained from Nexus Water Group?

New customers will receive mailed information and access details for services and billing. According to Kentucky American Water, resources include a dedicated website page, the MyWater online account portal, flexible payment options, and customer assistance programs for qualifying households needing bill support.

Will employees from Water Service Corporation of Kentucky join Kentucky American Water after the AWK acquisition?

Yes, around 13 employees from Water Service Corporation of Kentucky are joining Kentucky American Water’s operations. According to Kentucky American Water, these local employees bring valuable knowledge of the acquired systems, supporting a smooth transition for new customers in Clinton and Middlesboro.