Global Water Resources Acquires Seven Water Systems from Tucson Water, Adding 2,200 Customer Connections
Global Water Resources (NASDAQ: GWRS) has completed the acquisition of seven water systems from Tucson Water for approximately $8.1 million (1.05x rate base of $7.7M). The acquired systems serve 2,200 water service connections in Pima County and are expected to generate $1.5 million in annual revenue.
This strategic acquisition brings GWRS's total Pima County customer base to 7,200 connections, with nearly 5,000 added through seven previous acquisitions in the past five years. The company plans to modernize the systems with automated meter infrastructure (AMI) and smart meters, similar to technology deployed across 95% of its existing connections.
The company will maintain Tucson Water's current rates, with a scheduled 5% rate increase in July 2026. A broader rate case strategy is expected to be announced next year.
Global Water Resources (NASDAQ: GWRS) ha completato l'acquisizione di sette sistemi idrici da Tucson Water per circa 8,1 milioni di dollari (1,05 volte la base tariffaria di 7,7 milioni di dollari). I sistemi acquisiti servono 2.200 utenze idriche nella contea di Pima e si prevede generino 1,5 milioni di dollari di ricavi annui.
Questa acquisizione strategica porta il totale dei clienti di GWRS nella contea di Pima a 7.200 utenze, di cui quasi 5.000 aggiunte tramite sette acquisizioni precedenti negli ultimi cinque anni. L'azienda intende modernizzare i sistemi con infrastrutture di misurazione automatica (AMI) e contatori intelligenti, tecnologia simile a quella già implementata nel 95% delle utenze esistenti.
L'azienda manterrà le tariffe attuali di Tucson Water, con un aumento tariffario del 5% previsto per luglio 2026. Una strategia tariffaria più ampia sarà annunciata il prossimo anno.
Global Water Resources (NASDAQ: GWRS) ha completado la adquisición de siete sistemas de agua de Tucson Water por aproximadamente 8,1 millones de dólares (1,05 veces la base tarifaria de 7,7 millones de dólares). Los sistemas adquiridos atienden a 2.200 conexiones de servicio de agua en el condado de Pima y se espera que generen 1,5 millones de dólares en ingresos anuales.
Esta adquisición estratégica eleva la base total de clientes de GWRS en el condado de Pima a 7.200 conexiones, con casi 5.000 agregadas a través de siete adquisiciones previas en los últimos cinco años. La empresa planea modernizar los sistemas con infraestructura de medidores automatizados (AMI) y medidores inteligentes, tecnología similar a la implementada en el 95% de sus conexiones actuales.
La compañía mantendrá las tarifas actuales de Tucson Water, con un aumento tarifario del 5% programado para julio de 2026. Se espera que se anuncie una estrategia tarifaria más amplia el próximo año.
Global Water Resources (NASDAQ: GWRS)는 Tucson Water로부터 약 810만 달러(7.7백만 달러의 요율 기준 1.05배)에 7개의 상수도 시스템을 인수 완료했습니다. 인수한 시스템은 피마 카운티 내 2,200개의 수도 서비스 연결을 제공하며, 연간 150만 달러의 매출을 창출할 것으로 예상됩니다.
이번 전략적 인수로 GWRS의 피마 카운티 고객 기반은 총 7,200개의 연결로 확대되었으며, 지난 5년간 7건의 인수를 통해 약 5,000개가 추가되었습니다. 회사는 기존 연결의 95%에 도입된 것과 유사한 자동 계량 인프라(AMI)와 스마트 미터 기술로 시스템을 현대화할 계획입니다.
회사는 Tucson Water의 현재 요금을 유지하며, 2026년 7월에 5% 요금 인상이 예정되어 있습니다. 보다 광범위한 요금 정책은 내년에 발표될 예정입니다.
Global Water Resources (NASDAQ : GWRS) a finalisé l'acquisition de sept systèmes d'eau auprès de Tucson Water pour environ 8,1 millions de dollars (1,05 fois la base tarifaire de 7,7 millions de dollars). Les systèmes acquis desservent 2 200 raccordements d'eau dans le comté de Pima et devraient générer 1,5 million de dollars de revenus annuels.
Cette acquisition stratégique porte la base clientèle totale de GWRS dans le comté de Pima à 7 200 raccordements, dont près de 5 000 ajoutés grâce à sept acquisitions précédentes au cours des cinq dernières années. La société prévoit de moderniser les systèmes avec une infrastructure de compteurs automatisés (AMI) et des compteurs intelligents, technologie similaire à celle déployée sur 95 % de ses raccordements actuels.
L'entreprise maintiendra les tarifs actuels de Tucson Water, avec une augmentation tarifaire de 5 % prévue en juillet 2026. Une stratégie tarifaire plus large devrait être annoncée l'année prochaine.
Global Water Resources (NASDAQ: GWRS) hat die Übernahme von sieben Wassersystemen von Tucson Water für etwa 8,1 Millionen US-Dollar (1,05-fache Bemessungsgrundlage von 7,7 Mio. USD) abgeschlossen. Die erworbenen Systeme versorgen 2.200 Wasseranschlüsse im Pima County und werden voraussichtlich 1,5 Millionen US-Dollar Jahresumsatz generieren.
Durch diese strategische Übernahme erhöht sich die Gesamtzahl der Kunden von GWRS im Pima County auf 7.200 Anschlüsse, wobei fast 5.000 davon durch sieben frühere Übernahmen in den letzten fünf Jahren hinzugekommen sind. Das Unternehmen plant, die Systeme mit automatisierter Zählerinfrastruktur (AMI) und intelligenten Zählern zu modernisieren, ähnlich der Technologie, die bereits bei 95 % der bestehenden Anschlüsse eingesetzt wird.
Das Unternehmen wird die aktuellen Tarife von Tucson Water beibehalten, mit einer geplanten 5%igen Tariferhöhung im Juli 2026. Eine umfassendere Tarifstrategie wird voraussichtlich im nächsten Jahr bekannt gegeben.
- Strategic acquisition valued at 1.05x rate base of $7.7M
- Expected to generate $1.5M in annual revenue
- Geographic proximity enables efficient integration with existing operations
- Expansion adds 2,200 new customer connections in Pima County
- Planned modernization with AMI and smart meters to improve service quality
- Pre-approved 5% rate increase scheduled for July 2026
- Capital expenditure required for AMI and smart meter upgrades
- Future rate case strategy pending, creating temporary regulatory uncertainty
Insights
Global Water's strategic acquisition strengthens regional presence in Pima County, adding $1.5M annual revenue with favorable acquisition multiple.
Global Water Resources has completed its acquisition of seven water systems from Tucson Water at a 1.05x rate base multiple of
The acquisition multiple of 1.05x current rate base represents a favorable valuation, slightly above book value but reasonable given the strategic benefits. The geographic proximity to existing operations creates clear operational synergies, which should enhance margins over time through economies of scale. The acquired systems will benefit from Global Water's technological upgrades, particularly the planned automated meter infrastructure (AMI) deployment, which aligns with their existing infrastructure where smart meters have been installed across
The rate structure adoption maintains continuity for customers, with a
This transaction represents a continuation of Global Water's focused consolidation strategy in Arizona, with particular concentration in Pima County. The clustering of acquisitions in a defined geographic area demonstrates disciplined execution of their regional density strategy, which typically yields greater operational efficiencies than geographically dispersed acquisitions.
PHOENIX, July 09, 2025 (GLOBE NEWSWIRE) -- Global Water Resources, Inc. (NASDAQ: GWRS), a pure-play water resource management company, has completed the previously announced acquisition of seven water systems from Tucson Water, the City of Tucson’s water utility. The assets were acquired at a value equivalent to approximately 1.05 times the current rate base of approximately
The acquired water systems are located in and around Pima County where they serve approximately 2,200 water service connections and will be integrated with existing Global Water utilities in the area.
The addition of the acquired water systems brings the total number of Global Water customers in Pima County to approximately 7,200, of which nearly 5,000 were added from seven previous acquisitions completed in Pima County over the past five years.
“All seven water systems acquired from Tucson Water are located near our hubs, enabling seamless integration into our platform,” stated Global Water COO, Chris Krygier. “The strategic location of these facilities made them a natural expansion of our service area footprint. This geographic alignment allows for more efficient management and maintenance of the water systems, providing reliable water service for our customers.”
The company will integrate the acquired water systems using the same proven approach to consolidation and effective water management implemented for its other recent acquisitions in Pima County. Global Water will deploy its industry leading best practices around technology, customer service, and operations.
Global Water plans to modernize the acquired water systems with the installation of an automated meter infrastructure (AMI). This will include upgrading customer connections with smart meters that enable wireless usage metering, similar to the technology Global Water has deployed for more than
The AMI deployment will be a key part of the company’s planned capital improvements for these areas. The improvements will support higher quality water services, promote conservation and potentially result in customer savings. This acquisition is another step in furthering the company’s efforts of utility consolidation, automation and water resource management for the benefit of Arizona communities.
As part of the acquisition, the company adopted the Tucson Water’s rates for the acquired water systems, with a previously approved five percent rate increase scheduled for July 2026. The company has begun work on its broader rate case strategy for these water systems and expects to provide updates next year. This strategy aims to implement appropriate rate structures that incentivize conservation and provide the company with a reasonable return on its capital investments.
About Global Water Resources
Global Water Resources, Inc. is a leading water resource management company that owns and operates 39 systems which provide water, wastewater, and recycled water service. The company’s service areas are located primarily in growth corridors around metropolitan Phoenix and Tucson. Global Water recycles over 1 billion gallons of water annually with 18.1 billion gallons recycled since 2004.
The company has been recognized for its highly effective implementation of Total Water Management (TWM). TWM is an integrated approach to managing the entire water cycle that involves owning and operating water, wastewater and recycled water utilities within the same geographic area in order to maximize the beneficial use of recycled water. It enables smart water management programs such as remote metering infrastructure and other advanced technologies, rate designs, and incentives that result in real conservation. TWM helps protect water supplies in water-scarce areas experiencing population growth.
Global Water has received numerous industry awards, including national recognition as a ‘Utility of the Future Today’ for its superior water reuse practices by a national consortium of water and conservation organizations led by the Water Environment Federation (WEF). The company also received Cityworks’ Excellence in Departmental Practice Award for demonstrating leadership and creativity in applying public asset management strategies to daily operations and long-term planning.
To learn more, visit www.gwresources.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release include certain forward-looking statements which reflect the company's expectations regarding future events. The forward-looking statements involve a number of assumptions, risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in the forward-looking statements. These forward-looking statements include, but are not limited to, statements about the planned integration of the acquired water systems with existing company utilities in the area; the company’s plans to modernize the acquired water systems with the installation of AMI and upgrading customer connections with smart meters; the company’s expectation that the foregoing improvements will support higher quality water services and potential customer savings; regulatory and ACC proceedings, decisions, and approvals, such as the anticipated benefits resulting from rate decisions, including any collective revenue increases due to new water and wastewater rates; the company’s plans relating to future filings of its rate cases with the ACC, including with respect to the acquired water systems; acquisition plans and the company’s ability to complete additional acquisitions; technologies, including expected benefits from implementing such technologies; and other statements that are not historical facts, as well as statements identified by words such as "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", or the negative of these terms, or other words of similar meaning. These statements are based on the company’s current beliefs or expectations and are inherently subject to a number of risks, uncertainties, and assumptions, most of which are difficult to predict and many of which are beyond the company’s control. Actual results may differ materially from these expectations due to changes in political, economic, business, market, regulatory, and other factors. Factors that may also affect future results are disclosed under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the company’s filings with the Securities and Exchange Commission (the "SEC"), which are available at the SEC's website at www.sec.gov. This includes, but is not limited to, the company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings with the SEC. Accordingly, investors are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s views as of the date hereof. The company undertakes no obligation to publicly update any forward-looking statement, except as required by law, whether as a result of new information, future developments or otherwise.
Company Contact:
Michael Liebman
CFO and SVP
Tel (480) 999-5104
Email Contact
Investor Relations Contact:
Ron Both or Grant Stude
Encore Investor Relations
Tel (949) 432-7450
Email contact
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4a3bc622-7672-48a6-9b47-31c2c92ec010
FAQ
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