Unitil Completes Aquarion NH Acquisition, Secures $136M Credit Facility
UTL sits 18% above its 52-week low of $44.608.
Summary
Unitil Corporation has successfully closed its acquisition of Aquarion's New Hampshire and Abenaki water operations for $42.1 million in cash, plus an additional $0.6 million for working capital. To fund this expansion, the company secured an amended credit facility providing up to $136 million, with $42.7 million drawn at closing. This strategic move diversifies Unitil's regulated asset base into water utilities, following an 8-K filed earlier today. A 60-month transition services agreement is in place to ensure smooth post-acquisition operations and integration.
At the time of this announcement, UTL was trading at $52.84 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $950.6M. The 52-week trading range was $44.61 to $55.08. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.