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SJW Group´s Texas Subsidiary to Acquire KT Water, KT Water Resources
Tuesday 24 January 2023

California, US-based water utility operator SJW Group's (NYSE: SJW) Texas subsidiary, SJWTX Inc., which does business as Canyon Lake Water Service Company, has reached agreements to acquire KT Water Development Ltd and KT Water Resources L.P., which are both located in Comal County, Texas, the company said.

The pending acquisitions will add more than 550 customers and a 50% increase in the total available system-wide water supply for current customer needs and future growth.

KT Water Development Ltd, a privately held-investor-owned water utility, currently serves approximately 560 customers in southern Comal County, Texas, with possible expansion for an additional 150 connections.

KT Water Resources L.P. is a wholesale groundwater resource supplier to KT Water Development Ltd.

The acquisition of KT Water Resources L.P. by SJWTX will significantly increase system resiliency and improves SJWTX's position to provide ample water for projected customer growth through 2070.

SJWTX has filed an application for the acquisition of KT Water Development Ltd with the PUCT. If approved by the PUCT as submitted, the acquisitions are expected to be final by the 3rd quarter of 2023.

SJWTX, located in the growth pathway between San Antonio and Austin serves customers in three of the five fastest growing counties in the United States.

The company has closed more than 15 acquisitions since 2006 and has more than quadrupled the number of customers it serves from 6,500 to 26,000.

SJWTX, a subsidiary of SJW Group, is a public water utility situated in the Texas Hill Country between Austin and San Antonio providing service to approximately 78,000 people through approximately 26,000 water and wastewater service connections.

With three of the five fastest-growing counties in the United States, SJWTX serves customers in Comal, Blanco, Kendall, Bandera, Medina, Hays, and Travis counties.

KT Water Development Ltd is an investor-owned water utility providing water to approximately 1,500 people through over 500 service connections in the Rockwall Ranch subdivision in southern Comal County, Texas.

KT Water Resources L.P. is a private-held company formed to develop wholesale water supplies for the fast-growing utilities of Comal County, Texas.

SJW Group is among the largest investor-owned pure-play water and wastewater utilities in the United States, providing life-sustaining and high-quality water service to about 1.5m people.
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Date Published: 24/01/2023

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