Global Water Resources to acquire two Arizona utilities

September 14, 2018

PHOENIX, SEPT 13, 2018 — Global Water Resources, Inc., a pure-play water resource management company, has signed a definitive agreement to acquire Red Rock Utilities, an operator of a water utility and a wastewater utility with service areas in the Pinal and Pima counties of Arizona. The definitive agreement follows the Global Water’s letter of intent to acquire the utilities which was announced in June.

Combined, the acquisitions will add 1,654 connections and approximately 9 square miles of service area, which generates more than $1 million in revenue annually. In addition, Red Rock Utilities is currently in a revenue phase-in period stemming from their last rate case, wherein it is projected to increase revenue by over $300,000 once rates are fully phased in.