CWT.N News & Events

California Water Service announced that it has reached an agreement to purchase Nexus Water Group's Nevada and Oregon water and wastewater systems, adding approximately 36,000 equivalent residential connections and a combined rate base of approximately $109M at December 31, 2025. "This is a great way to kick off our centennial year. We started out serving four small California communities in 1926, and with this acquisition, we will serve roughly two million people through approximately 584,000 service connections in seven western states. We look forward to completing the transaction and integrating the systems in a way that provides opportunities for employees and excellent service to customers," said chairman and CEO Martin Kropelnicki. The purchase price of approximately $218M which is subject to typical closing adjustments, will be funded with working capital and existing debt and equity facilities. The company expects to complete the transaction by the end of 2026.

Reports Q4 revenue $220.0M vs. $222.2M last year. Revenue was impacted by declining customer consumption due to extremely wet December weather, which was partially offset by rate changes and changes in the Monterey-style water revenue adjustment mechanism. "Given that this is the third year of our California rate case cycle and that we had a much wetter than normal December, these results are in line with our expectations," said CEO Martin Kropelnicki.

California Water Service Group, the majority equity investor in BVRT Utility Holding Company through its subsidiary, TWSC, has entered into an agreement to purchase the remaining membership interests of BVRT and become the sole owner of its seven subsidiary water and wastewater utilities in the Austin-San Antonio corridor. At the same time, BVRT has continued to expand its Texas footprint through opportunities to build and enhance water and wastewater infrastructure in the area. Group expects to file a change of control application with the Public Utilities Commission of Texas soon to acquire the remaining BVRT membership interests. Texas Water's acquisition of the remaining membership interests is subject to satisfaction of customary terms and conditions in addition to PUCT and Group Board approval. Separately, the PUCT has granted BVRT subsidiary Camino Real Utility Company a water certificate of convenience and necessity, forming a water utility that can serve future customer connections within nearly 230 acres southeast of downtown Mustang Ridge in Caldwell County. Camino Real, which already provides wastewater service to 270 customers in Travis and Caldwell counties, has also signed an agreement with Oatman Hill Municipal Utility District to extend about 21,500 feet of sewer main from its existing wastewater treatment facility to serve the adjacent, 253-acre Oatman Hill development. At full buildout, which is expected to occur in 2036, Oatman Hill is expected to include up to 5,000 equivalent dwelling units.

California Water Service Group announced the promotion of Todd K. Peters to Vice President, Engineering and Thomas A. Scanlon to Vice President, Corporate Controller and Chief Accounting Officer, effective January 1, 2026. "Both of these promotions are well-deserved. Todd and Tom bring unique experience and expertise to our leadership team, and I congratulate them on their achievements to date," Kropelnicki said.