PUC Services Inc. of Sault Ste. Marie has announced it is acquiring Northern Water Works Inc. of Red Lake.
The announcement was made by PUC and city officials Monday morning at the Sault Ste. Marie Civic Centre.
It makes PUC Inc. the second-largest provider of water and wastewater services in Ontario.
Northern Water Works was established in Red Lake in 1997.
It provides water and wastewater operations, maintenance and management services to municipal, industrial and First Nation clients, managing 35 municipal water and wastewater subsystems at 60 facilities scattered over a geographical area comparable to Germany and France combined.
The utility operates, maintains and manages half of all the municipal and water water treatment facilities west of Thunder Bay to the Manitoba border.
NWI will operate as a standalone company, Rob Brewer, PUC president and chief executive officer, said today.
Jason LeBlanc, NWI’s chief administrative officer, has committed to staying in his current position for the next three years.
The Red Lake acquisition is not expected to affect PUC ratepayers or employees.
“This purchase helps support PUC’s strategic growth objectives and provides sound investment opportunities for our shareholder,” Brewer said.
“In addition, the combination of of PUC and NWI offers our customers additional capacity and value-added services that will further improve the services we provide,” Brewer said.
The following is full text of a news release issued today by PUC Services:
PUC Inc. has acquired leading water and wastewater service provider Northern Waterworks Inc. (NWI).
“With more than $400 million in assets under management, the acquisition of NWI will increase shareholder value and position the PUC group of companies as the second largest service provider of water and wastewater operations in Ontario,” said Rob Brewer, president/CEO of PUC Services Inc. The purchase closed May 31, 2019.
“The acquisition of NWI strengthens the PUC’s efforts to become a leader in the water and energy industry,” said Mayor Christian Provenzano. “The PUC Board of Directors, management team and staff have worked hard to pursue opportunities that will generate revenue and add to our local economy. This is a great step in that direction.”
To ensure a successful and seamless transition, Jason LeBlanc will remain as NWI’s chief administrative officer for the next three years. NWI will operate as a standalone company that will complement PUC in areas not currently served by PUC Services Inc.
“NWI’s clients, customers and our employees will benefit from the long-term sustainability that PUC can provide as well as the company’s innovative approaches to protecting public health through its provision of safe drinking water and effective wastewater treatment,” said NWI’s CAO Jason D. LeBlanc.
“This purchase helps support PUC’s strategic growth objectives and provides sound investment opportunities for our shareholder. In addition, the combination of PUC and NWI offers our customers additional capacity and value-added services that will further improve the services we provide,” added Brewer.