CVC’s infrastructure arm CVC DIF is creating a mid-market regulated water and wastewater utility platform in the US Southwest through the acquisition of 18 water and wastewater utilities from JW Water and Robson Communities, serving over 50,000 customers in Arizona.
The investments in JW Water and the Robson utilities were made through DIF Infrastructure VII.
Established in 2013, JW Water has a demonstrated track record of acquiring and making necessary investments to improve the operations and reliability of small and medium-sized water and wastewater utilities in Arizona.
With the addition of the Robson utilities, JW Water will become a leading mid-market regulated water and wastewater utility platform serving over 50,000 customers. Going forward, JW Water is well positioned to invest in essential infrastructure needed to provide safe and reliable drinking water and wastewater utility service to its customers, the acquirer said.
“The acquisition of JW Water, together with the acquisition of the eight Robson utilities, represents a significant investment in infrastructure that is critical to the health and well-being of the communities they serve. We are committed to making the necessary investments to ensure the utilities continue to provide safe and dependable service to customers,” said Gijs Voskuyl, managing partner at CVC DIF. “We also believe this investment is emblematic of CVC DIF’s focus on high quality infrastructure assets that provide stable long-term cash flows with the opportunity for additional growth and long-term value creation.”
Jason Williamson, CEO of JW Water, added: “We are excited by the investment and long-term benefits the acquisition by CVC DIF will bring to the customers and communities served by the 18 utilities JW Water will now manage. We are immensely proud of what we have accomplished to date, serving the communities in which we operate, and look forward to the next stage of investment, growth and stewardship supported by CVC DIF.”
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