VOORHEES, N.J.--(BUSINESS WIRE)--
American Water Works Company, Inc. (NYSE: AWK), the largest publicly
traded U.S. water and wastewater utility company, today announced that
it has completed the acquisition of Pivotal Home Solutions from Southern
Company Gas, a subsidiary of Southern Company, for $363.7 million in
cash, including estimated working capital.
Pivotal Home Solutions, a home warranty business operating in 18 states
with 1.2 million customer contracts, joins American Water's Homeowner
Services Group organization. Pivotal will maintain its name and
operations in Naperville, Ill., and continue offering protection for a
wide variety of home appliances, heating and cooling systems, and
service lines inside and around a home.
"We are excited to welcome the Pivotal Home Solutions team to our
organization," said Susan Story, president and CEO of American Water.
"Together, we'll leverage the commitment that both teams demonstrate in
providing even more peace of mind and unmatched service to home warranty
customers across the U.S."
American Water's Homeowner Services Group operates in 43 states and
Washington, D.C., and currently services more than 1.8 million
contracts, not including those served by Pivotal Home Solutions. The
Homeowner Services Group has been providing protection programs for more
than 15 years, has an A+ Rating from the Better Business Bureau and
holds a 97 percent customer satisfaction rating. It also provides its
Protection Programs to homeowners through municipal partnerships with
the New York City Department of Environmental Protection, Orlando
Utilities Commission, Nashville Metro Water Services and others.
About Pivotal Home Solutions
Since 1992, the home warranty plans offered by Pivotal Home Solutions
have helped protect homeowners from the costs of unexpected repairs to
their home's systems, lines and/or appliances. Pivotal Home Solutions'
operations include approximately 1.2 million repair and maintenance
plans in 18 states.
About American Water
With a history dating back to 1886, American Water is the largest and
most geographically diverse U.S. publicly-traded water and wastewater
utility company. The company employs more than 6,900 dedicated
professionals who provide regulated and market-based drinking water,
wastewater and other related services to an estimated 15 million people
in 46 states, the District of Columbia and Ontario, Canada. More
information can be found by visiting www.amwater.com.
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Source: American Water
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