CVC DIF announced on November 21, 2024, that is has acquired 18 water and wastewater utilities serving over 50,000 customers in Arizona. The acquisition came through two transactions.
The company has acquired JW Water Holdings (JW Water), a regulated water and wastewater utility platform serving approximately 9,000 customers across ten utilities in Arizona.
The company also acquired a portfolio of eight regulated water and wastewater utilities, which were originally developed or purchased by real estate developer Ed Robson. The eight utilities, now serving over 41,000 customers in Robson’s master-planned communities in Arizona, trace their roots back to Pima Utility.
“The acquisition of JW Water, together with the acquisition of the eight Robson utilities, represents a significant investment in infrastructure that is critical to the health and well-being of the communities they serve,” said Managing Partner at CVC DIF Gijs Voskuyl in a press release. “We are committed to making the necessary investments to ensure the utilities continue to provide safe and dependable service to customers. We also believe this investment is emblematic of CVC DIF’s focus on high quality infrastructure assets that provide stable long-term cash flows with the opportunity for additional growth and long-term value creation.”
With the addition of the Robson utilities, JW Water aims at becoming a leading mid-market regulated water and wastewater utility platform serving over 50,000 customers.
“We are excited by the investment and long-term benefits the acquisition by CVC DIF will bring to the customers and communities served by the 18 utilities JW Water will now manage,” said CEO of JW Water Jason Williamson in a press release. “We are immensely proud of what we have accomplished to date, serving the communities in which we operate, and look forward to the next stage of investment, growth and stewardship supported by CVC DIF.”
