Artesian Water Company, Inc., a subsidiary of Artesian Resources Corp. entered into an agreement last month to acquire the water system of the Town of Clayton.
Clayton’s water system serves approximately 1,500 customers through 23 miles of main, with three wells and two elevated water storage tanks. The system will be integrated with Artesian’s existing regional water system in northern Kent County, DE.
Closing on the acquisition is expected to occur in the second quarter of 2022 after due diligence and Delaware Public Service Commission approval.
This agreement follows Artesian’s acquisitions in the past couple of years of the municipal water systems of Delaware City and Frankford. Artesian has worked with the Town of Clayton for the past 15 years assisting them with their water supply and fire protection. The acquisition allows Artesian’s regional system to grow with Clayton, which has multiple residential and commercial projects under construction, a release stated.
“As the provision of water has become more costly and complicated, it was a natural fit that Artesian and Clayton become one system,” said Nicholle Taylor, president of Artesian Water Company.
“It is Artesian’s long-standing relationships with other water utility providers and proven ability to deliver superior water service to customers that foster our efforts to build and expand integrated water systems throughout the state of Delaware,” said Dian C. Taylor, CEO.
