Aqua America Inc.'s Texas subsidiary has acquired the water and wastewater system assets of a Gulf Coast company for $3.3 million.
Aqua, based in Bryn Mawr, said that Gray Utility's systems serve about 6,300 people in a region about 40 miles from downtown Houston.
The company says it has made 10 acquisitions this year in Texas, where it is focusing its attention. It also has an agreement to buy 51 water and five wastewater systems, a deal that is expected to close in the third quarter of 2011.
Aqua America properties service about three million people in 14 states, including Pennsylvania, New Jersey and New York.
Company shares were down 6 cents late this morning to $22.83 on the New York Stock Exchange. - Roslyn Rudolph