Aquarion: Kelda’s prodigal child
- From: Vol 5, Issue 12 (December 2004)
- Category: Companies
- Region: Americas
- Country: United States
- Related Companies: American Water Works, Aquarion, AquaSource, Duquesne Light/DQE, Kelda, Pennichuck Water, Suez, United Water and Yorkshire Water
Yorkshire Water’s American investment isn’t paying its way. Larry Chertoff looks at what went wrong.
When Kelda Group diversified its assets by buying Connecticut water company Aquarion in 2000 for $600 million, the dollar was strong and the 180-year-old company was beginning to shake up the industry with strategically clever acquisitions. Kelda may now be rethinking the wisdom of that purchase.
In 2001, with help from Kelda’s balance sheet, Aquarion bought American Water Works ...
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