H2O America has completed the acquisition of Quadvest, a Texas water and wastewater utility operator, for a base purchase price of $540 million. The transaction was executed on October 1, 2026, by the company's regulated Texas subsidiary, The Texas Water Company, Inc. (TWC), and its affiliate Texas Water Operation Services, LLC (TWOS).
The acquisition encompasses substantially all of the assets of Quadvest Retail, the regulated water and sewer utility business, and Quadvest Wholesale, the wholesale water and sewer business. The deal was previously disclosed in a Form 8-K filed on July 8, 2025.
The purchase price is subject to customary purchase price adjustments as outlined in the Asset Purchase Agreement. H2O America stated that the acquisition more than doubles the company’s water and wastewater connections in Texas. The company projects that Texas customers will represent 26% of its overall customer base by 2029, up from 8% prior to October 1.
Quadvest serves customers in the Houston area and has operated since 1978. H2O America noted that operations will continue without interruption, and the existing team of locally based employees and leadership will be retained.
Financial statements regarding the acquired businesses and pro forma financial information are expected to be filed with the SEC by amendment within 71 days of the current report.
