Unitil Corporation has finalized its purchase of Aquarion Water Company of New Hampshire and Abenaki Water Co. from the Aquarion Water Authority.
The acquisition, completed June 30, follows a stock purchase agreement first announced in May 2025 and later amended to limit the sale to the two Aquarion companies. Unitil said all conditions of the agreement — including approvals from utility regulators in New Hampshire and Maine — were met ahead of the closing.
The Aquarion companies operate about 150 miles of water mains and have an estimated rate base of $47 million as of the end of 2025, according to Unitil. With the purchase, Unitil now serves about 226,100 customers across New Hampshire, Maine and Massachusetts. The company said the deal is expected to be “earnings accretive” over the long term and support its projected earnings‑per‑share growth of 5% to 7%.
“The acquisition of the Aquarion companies represents a unique opportunity for Unitil to expand into a complementary regulated utility service within a state we already serve,” said Thomas P. Meissner Jr., Unitil’s chairman and chief executive officer. “We are excited to welcome the Aquarion companies’ experienced, locally managed teams and remain committed to delivering the high-quality service that customers and communities across New Hampshire have come to expect.”
Unitil paid $55.8 million for the companies, a figure that includes the assumption of about $13.7 million in debt and roughly $600,000 in working capital and reimbursable capital costs. The purchase was financed through a term loan from Scotiabank.
Scotiabank and the law firm Dentons advised Unitil on the transaction.
This article originally appeared on Portsmouth Herald. Reporting by Special to Seacoastonline, news@seacoastonline.com / Portsmouth Herald
