LOWELL, Ind. (WEHT) — Indiana American Water announced Tuesday the acquisition of the Lowell water system in northwest Indiana. A spokesperson says the purchase adds approximately 4,000 water customers to the company’s customer base, which represents a population of nearly 11,000 residents.
“The acquisition of this system will help hold future rates down for Lowell customers as needed investments are made and also provide access to operations and capital management water professionals and a number of customer service options and payment methods,” said Indiana American Water President Matt Prine. “Indiana American Water already provides water service to several nearby communities, so this is a good fit for us and a continuation of our efforts to expand our presence across Indiana.”
The Lowell acquisition marks the largest acquisition by Indiana American Water in more than two decades, officials say. The company provides water service to approximately one in five residents across the state and operates more than 35 water and wastewater systems in Indiana.
The acquisition of the Lowell water system for $24.5 million was approved by the Indiana Utility Regulatory Commission on Decc 22, 2021 and closed by Indiana American Water and the Town of Lowell on Dec. 28, 2021.