Eversource Buys Aquarion in $1.7 Billion Acquisition

New England's largest utility company will most likely get much bigger in the coming months. Eversource announced Friday that it will acquire Aquarion Water Company in a $1.675 billion transaction. The transaction still requires regulatory approval from the Connecticut Public Utilities Regulatory Authority, the Massachusetts Department of Public Utilities and the New Hampshire Public Utilities Commission.

It also requires approval from the U.S. Justice Department under the Hart-Scott-Rodino Act.

“This transaction combines two companies that are leaders in providing the critical infrastructure New
England residents and businesses need to grow and thrive,” said Jim Judge, chairman, president and chief
executive officer of Eversource in a prepared statement. “Both companies’ dedicated employees work relentlessly to put customers first, and that commitment to reliability and customer service will remain paramount.”

Eversource has 3.7 million electric and natural gas customers in Connecticut, Massachusetts and New Hampshire, while Aquarion serves 230,000 in the same states.

“Eversource has such strong local ties to New England, and a commitment to operational excellence,
customer service, and support for the communities we serve,” said Chuck Firlotte, Aquarion president and
chief executive officer. “These are qualities we share and will serve us well as we join with Eversource’s incredible team of employees.”