NW Natural Water Company has agreed to purchase an ownership stake in Avion Water Company, Inc., the largest investor-owned water utility in Oregon. Avion Water operates in Bend and the surrounding communities, serving approximately 15,000 customer connections and employing 35 people.
NW Natural Holdings CEO, David H. Anderson said: “Our investment in Avion Water strategically expands our presence in Oregon and offers tremendous long-term growth and development opportunities. We look forward to partnering with Avion and its management team, which has an excellent track record and reputation in the industry, and shares NW Natural’s values and its commitment to customers.”
Avion Water Chairman, Jan Wick said: “Adding NW Natural Water as a shareholder reflects the high degree of trust and alignment between our two companies. We believe our partnership with NW Natural Water will provide additional financial strength, resources and expertise to support the next phase of growth for Avion Water, ensuring that we continue to meet the needs of the communities we serve.”
Avion Water’s existing management team, including President Jason Wick and CFO Rick Bailey, will continue to lead the company and manage day-to-day operations. The transaction is expected to close in December 2021.
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