December 11, 2012
CT, ME water cos. close on merger
A Connecticut company announced Monday that it has closed on its acquisition of Biddeford and Saco Water Co. for an undisclosed price.
The deal merges the utility with The Maine Water Co., which the Clinton Conn.-based Connecticut Water Service Inc. purchased in January, creating the largest investor-owned water utility in Maine with nearly 32,000 customers.
As part of the merger, Biddeford and Saco Water Co. President Jerry Mansfield will retire as Maine Water Co. President Judy Wallingford takes over both companies.
According to a press release, the move will not result in a rate increase for customers of either water utility.
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