Indiana American Water Acquires Yankeetown Water Systems for 1.995M

Indiana American Water President Alan DeBoy today announced the company's acquisition of Yankeetown Water, a member-owned water utility located in southwestern Indiana. The purchase of the system adds approximately 633 customers to the company's customer base and serves a population of approximately 1,700 residents. “The acquisition of this system will provide Yankeetown customers with lower rates and access to operations and capital management water professionals and a convenient 24/7 customer service center,” said DeBoy. “Indiana American Water already provides water to the nearby Town of Newburgh in this part of the state, so this is a good fit for us and a continuation of our efforts to expand our presence across Indiana. “In a time when communities are looking for new and innovative ways to deal with challenges they're facing and hold the bottom-line on expenses, this acquisition is a great solution for the utility and its customers,” DeBoy continued. “Indiana American Water brings a broad range of experience, resources and knowledge to the community through this transaction that ultimately will have a positive impact on the area.” The acquisition of the Yankeetown system for approximately $1,995,000 was approved by the Indiana Utility Regulatory Commission in March 2014 and closed by Indiana American Water and Yankeetown Water on April 28, 2014. The Yankeetown system will be incorporated into the company's Newburgh district, which currently serves approximately 21,000 residents.