PUC Inc. Expands Water Services Portfolio With Key Acquisition
SAULT STE. MARIE, Ontario, June 4, 2019 /PRNewswire/ -- 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.
About Northern Waterworks Inc.
Established in the Municipality of Red Lake in 1997, NWI has been providing water and wastewater operations, maintenance and management services to municipal, industrial and First Nation clients for over two decades and currently operates, maintains and manages 35 municipal water and wastewater subsystems. These systems include over 60 individual facilities that are distributed over a geographical area that is similar in size to that of France and Germany combined. NWI operates, maintains and manages 50 percent of all municipal water and wastewater treatment facilities west of Thunder Bay to the Manitoba border and employs over 40 professionals dedicated to setting new industry standards and best practices. NWI provides various consulting services, including a 24-7 hotline for technical support and emergency responses, to every First Nation in Ontario (127 communities) either directly or through the Government of Canada's Department of Indigenous Services Canada (ISC) and the Ontario Ministry of the Environment, Conservation and Parks' (MECP) Spills Action Centre (SAC).
About PUC Inc.
PUC Inc. is a private company registered under the Ontario Business Corporations Act and is wholly owned by the Corporation of the City of Sault Ste. Marie. PUC Inc. is the sole owner of PUC Distribution Inc., the Local Distribution Company of electricity in Sault Ste. Marie.
About PUC Services Inc.
PUC Services Inc. is a utility services company operating as a wholly owned private company of the Corporation of the City of Sault Ste. Marie and is incorporated under the Ontario Business Corporations Act. PUC Services Inc. manages the assets and business of PUC Distribution Inc., manages the city's water treatment and distribution system and operates the City's two wastewater treatment plants under multi-year contracts. PUC Services Inc. also provides billing and customer care services and manages the operations of Espanola Regional Hydro under multi-year contracts. Water and wastewater services are also provided to several communities and organizations in the Algoma District.
Media Contact:
Giordan Zin
Phone: 705-759-1551
Email: giordan.zin@ssmpuc.com
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SOURCE PUC Services Inc.
