Sjw Group Announces Texas Subsidiary Has Closed On Acquisition Of Texas Country Water

Jan 25, 2022•over 3 years ago

Acquiring Company

SJW Group

Acquired Company

SJWTX dba Canyon Lake Water Service Company

San JoseNatural ResourcesSustainabilityNatural ResourcesProfessional ServicesInformation Technology

Description

SJW Group (NYSE: SJW) today announced that its Texas subsidiary, SJWTX Inc., which does business as the Canyon Lake Water Service Company, has closed on the purchase of Texas Country Water in Comal County, Texas. TCW is the fourth Texas acquisition by SJWTX in the past 12 months. Over that time, SJWTX has added more than 1,900 water and wastewater connections through acquisitions. The overall growth rate for the same period is about 20% when organic growth is included.

Company Information

Company

SJW Group

Location

San Jose, California, United States

About

SJW Group is among the largest investor-owned pure-play water and wastewater utilities in the United States, providing life-sustaining and high-quality water service to 1.6 million people. SJW Group’s locally led and operated water utilities - San Jose Water Company in California, The Connecticut Water Company in Connecticut, The Maine Water Company in Maine, and SJWTX, Inc. (dba The Texas Water Company) in Texas - possess the financial strength, operational expertise, and technological innovation to safeguard the environment, deliver outstanding service to customers, and provide opportunities to employees. SJW Group remains focused on investing in its operations, remaining actively engaged in its local communities, and delivering continued sustainable value to its stockholders.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed

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Sjw Group Announces Texas Subsidiary Has Closed On Acquisition Of Texas Country Water

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