Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Missoula's Water Company Sold To Canadian Utility

A Canadian utility hasreached an agreement with global equity firm, The Carlyle Group, to acquire the parent company of Missoula's Mountain Water  Company.

Park Water owns and operates three water utilities that serve approximately 74-thousand customers in Southern California and Western Montana.

Algonquin Power & Utilities Corporation's regulated utility business, Liberty Utilities, is expected to pay an estimated $327-million-dollars for the three water utilities. That price includes the assumption of approximately $77-million-dollars of existing long-term utility debt.

Mountain Water Company president John Kappes is not fielding media requests today. His office issued this statement:

"We at Mountain Water Company are very pleased to hear that our company is going to be part of a long term utility owner that understands and supports a local, responsive and caring approach to the provision of utility services. Liberty has a long history of providing reliable utility service in other communities and is committed to making continued investment in Missoula’s water distribution system. We hope the community will join us in giving them a warm welcome."

Edward O’Brien first landed at Montana Public Radio three decades ago as a news intern while attending the UM School of Journalism. He covers a wide range of stories from around the state.  
(406) 243-4065
Become a sustaining member for as low as $5/month
Make an annual or one-time donation to support MTPR
Pay an existing pledge or update your payment information
Related Content