Tennessee American Water Completes Purchase of Tennessee Water Service, Part of Nexus Water Group Systems
American Water (NYSE: AWK) completed the acquisition of Tennessee Water Service's Tennessee water system from Nexus Regulated Utilities, part of Nexus Water Group.
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Rhea-AI Summary
American Water (NYSE: AWK) completed the acquisition of Tennessee Water Service's Tennessee water system from Nexus Regulated Utilities, part of Nexus Water Group. The deal, finalized on June 1, 2026, adds about 480 customer connections and one employee to Tennessee American Water.
Regulatory and governmental approvals were obtained by May 21, 2026. New customers gain access to Tennessee American Water's online portal MyWater, flexible payment options, and customer assistance programs. Transition information will be mailed and is available on a dedicated customer service webpage.
Positive
- Acquisition adds approximately 480 customer connections to Tennessee American Water
- Transaction for Tennessee system closed on June 1, 2026 after approvals
- Regulatory and governmental approvals obtained by May 21, 2026
- New customers gain access to MyWater online portal and flexible payments
- Customer assistance programs extended to qualifying new Tennessee customers
Negative
- None.
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 480
- Tennessee Water Service system acquisition
- New customers referenced
- almost 500
- Tennessee American Water expected new customers
- States in Nexus deal
- 8 states
- Agreement to acquire Nexus Water Group systems
- Agreement announcement date
- May 19, 2025
- AWK announced Nexus Water Group systems acquisition agreement
- Regulatory approvals date
- May 21, 2026
- All applicable commissions and governmental approvals obtained
- Acquisition closing date
- June 1, 2026
- Completion of Tennessee Water Service system purchase
Historical Context
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AI-generated analysis. How Rhea-AI works. Not financial advice.
The acquisition adds approximately 480 customer connections to Tennessee American Water's footprint and one employee to the Tennessee American Water team who will continue to proudly provide water to these customers.
"On behalf of our entire team, we are delighted to welcome our new customers and new employee to the Tennessee American Water family," said Grant Evitts, President of Tennessee American Water. "We look forward to serving our almost 500 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
Approvals by applicable state regulatory commissions and governmental entities were obtained as of May 21, 2026, and American Water completed the purchase on June 1, 2026.
Tennessee 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 Tennessee 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
For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram.
About Tennessee American Water
Tennessee American Water, a subsidiary of American Water (NYSE: AWK), is the largest regulated water utility in the state with approximately 100 dedicated employees working to provide safe, clean, reliable and affordable water services to approximately 425,000 people in Tennessee and north Georgia.
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.
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SOURCE American Water
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