Indian American Water announced that it has acquired the Claypool water system in northern Indiana for $700,000.
The purchase of the system adds approximately 150 water customers to the company’s customer base, which represents a population of more than 400 residents.
“The acquisition of this system will help hold future rates down for Claypool customers as needed investments are made and also provides access to operations and capital management water professionals and a number of customer service options and payment methods,” said Matt Prine, Indiana American Water’s president. “Indiana American Water already provides water service to several nearby communities, so this is a good fit for us and a continuation of our efforts to expand our presence across Indiana.”
The acquisition of the Claypool water system was approved by the Indiana Utility Regulatory Commission on February 22, 2023 and closed by Indiana American Water and the Town of Claypool on March 28, 2023.
“The business of providing water is getting more complicated every day, especially for smaller systems like ours that struggle with evolving regulatory issues and not having the scale to gain efficiencies in our operations,” said Benny Stage, Claypool Town Council president. “The sale will also facilitate much needed improvements to the system and allow us to focus on other community needs.”
