H2O America Strikes $540 Million Deal for Quadvest Assets

H2O America has agreed to buy the assets of rival water and wastewater utility Quadvest in a transaction that will boost its presence in the fast-growing Texas market.

San Jose-based H2O will pay $540 million for the assets, which are to be acquired through its Texas Water Co. and Texas Water Operation Services affiliates, according to a statement Tuesday that confirmed an earlier Bloomberg News report.

“The addition of Quadvest to TWC is a unique opportunity to strategically diversify, enhance, and expand H2O America’s operations in one of the nation’s fastest-growing regions,” H2O Chief Executive Officer Andrew F. Walters ...