Cal Water, the largest subsidiary of California Water Service Group (NYSE: CWT), has entered into an agreement to acquire the water system assets of Skylonda Mutual Water Company, which serves 176 customer connections adjacent to Cal Water’s Bear Gulch District. The purchase is subject to customary closing conditions, including the approval of the California Public Utilities Commission, and the transaction is expected to close in 2022.
Subject to the fulfillment of conditions to closing of the agreement, Cal Water expects to provide water utility service to Skylonda’s customers through its Bear Gulch District, which serves about 60,900 people through 18,900 service connections in Portola Valley, Woodside, Atherton, and portions of Menlo Park, Redwood City, and San Mateo County. Cal Water would invest in Skylonda’s water system infrastructure, as the utility does for its other systems throughout the state, to ensure it remains safe and reliable for customers’ everyday needs and firefighters’ emergency needs.
“We are pleased to enter into this agreement with Skylonda Mutual Water Company and appreciate its confidence in our expertise to serve its customers,” said Marty Kropelnicki, Cal Water President and CEO. “Skylonda’s proximity to our Bear Gulch District will enable us to provide safe, reliable, high-quality water service to its customers efficiently, and we look forward to providing them the same quality, service, and value that all of our customers have come to expect and deserve.”