Virginia American Water Finalizes Acquisition of Town of Cape Charles Water and Wastewater Systems
Virginia American Water announced today it has closed the acquisition of the drinking water and wastewater system assets of the Town of Cape Charles, Virginia for $15 million.
- Virginia American Water announced today it has closed the acquisition of the drinking water and wastewater system assets of the Town of Cape Charles, Virginia for $15 million.
- View the full release here: https://www.businesswire.com/news/home/20240424085131/en/
Back row (l to r): Adam Charney, Mayor, Town of Cape Charles and Steve Bennett, Vice Mayor, Town of Cape Charles. - Front row (l to r): John Hozey, Town Manager, Town of Cape Charles and Charlie Piekanski, Vice President of Operations, Virginia American Water (Photo: Business Wire)
As part of the acquisition, Virginia American Water will invest more than $10 million in future critical system improvements over the next eight years. - The Town of Cape Charles signed an agreement to sell its drinking and wastewater systems to Virginia American Water in January of 2023, based on the need to upgrade the system's infrastructure and bring additional experience and expertise in water management.