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Rio Plaza Water Company Acquired by California American Water
Rio Plaza Water Company, based in Santa Paulo, was acquired last week by California American Water (CAW) under the terms of an agreement approved by the California Public Utilities Commission. CAW purchased the Rio Plaza water system of approximately 500 customers from the Nickel family of Moorpark, CA who has owned and operated the water system for two generations.
“We look forward to welcoming our new Rio Plaza customers to California American Water and are eager to introduce them to our various programs that include rebates, free water conservation services and devices,” said Chris Mattis, CAW’s director of Southern California Operations. “California American Water maintains a staff of qualified personnel who are experts in their field and duly certified by the California State Water Resources Control Board. And our commitment to Rio Plaza customers includes ensuring they have access to safe and reliable water services at a reasonable rate.”
Rio Plaza Water Company joins several other California water companies who have been acquired by CAW in the recent past. CAW acquired the operating assets of Hillview Water Company in California’s Central Valley in October 2017 for an undisclosed sum. CAW also acquired Bellflower city’s municipal water system for $17 million in December 2017. More recently – this past April – CAW acquired East Pasadena Water Company’s assets, for an undisclosed sum. The purchase price for acquiring Rio Plaza Water Company was not disclosed.
“California American Water and Rio Plaza Water Company share a goal of providing dependable water services to customers in Ventura County,” said John Chris Nickel, Sr. of the Rio Plaza Water Company. “We believe California American Water will provide the best service to our customers and we look forward to their active participation in the community.”
CAW’s Ventura County service district (which includes Santa Paulo) includes approximately 21,000 households and businesses and serves a population of approximately 63,000 in the cities of Camarillo, Thousand Oaks, and the community of Newbury Park as well as unincorporated portions of Ventura County. CAW is a subsidiary of American Water which provides high-quality and reliable water and/or wastewater services to more than 675,000 people.