Artesian Water Company, Inc., a subsidiary of Artesian Resources Corporation purchased the water system of Delaware City. Artesian is headquartered south of Newark. Financial terms were not immediately disclosed.
This acquisition is the culmination of a long-standing relationship between Artesian and Delaware City.
Artesian operated Delaware City’s water system on a contract basis for 17 years.
Under these contracts, Artesian has been responsible for operating the water treatment plant. The utility is also providing water service at Fort Delaware adjacent to Delaware City.
The acquisition will be Artesian’s seventhover the past three years, including the Slaughter Beach Water Company, High Point, Cantwell, Odessa, and most recently Frankford water systems.
“We are proud that Delaware City chose Artesian to provide water service to its residents,” said Dian C. Taylor, Chair, CEO of Artesian. “We have forged a strong partnership with Delaware City over the past 17 years and will be making significant investments to ensure the residents of Delaware City receive high quality, reliable water service,” said Taylor.
Artesian will invest over $2.4 million in enhancing Delaware City’s water system. The investment will include upgrading water meters to new technology, replacing aging water main and services, and installing more efficient pumps and treatment.
Additionally, Artesian will interconnect the Delaware City water system with the neighboring Fort DuPont water system, which was acquired by Artesian in 2017. Connecting these neighboring systems will provide improved water pressure for residents of Delaware City, improve fire protection flows, and ensure multiple sources of groundwater supply.
The Historic Fort DuPont area is currently being redeveloped. The 325-acre area is planned to be a 600-unit residential waterfront community, with many plans for businesses.
“The economic development in Fort DuPont, and the enhanced reliability of water supply and fire protection, will benefit the entire Delaware City area and further enable its future growth,” said Taylor.
Artesian is a century-old publicly traded company but remains under the control of the founding Taylor family.