H2O America has received regulatory approval to acquire a portfolio of water utility assets from Quadvest, the companies said in a joint statement on Friday.
The approval, granted by state and federal regulators, clears the way for the transaction to proceed without material conditions. Terms of the deal were not disclosed. Quadvest, a privately held water and wastewater services provider, will retain unspecified assets not included in the sale.
H2O America, a U.S.-based water infrastructure operator, said the acquisition aligns with its strategy to grow through strategic asset purchases. The company did not specify the size or location of the Quadvest assets being acquired.
Regulatory filings indicate the deal required review under state utility commission rules and federal environmental guidelines. No antitrust concerns were flagged during the process, according to people familiar with the matter.
The transaction is expected to close in the coming months, subject to customary closing conditions. H2O America did not provide further details on the financial terms or the impact on its operations.
Quadvest operates in multiple U.S. states, primarily in the Southeast and Midwest, offering water and wastewater services to municipalities and industrial clients.
