Water utility company sold

DOWNEY - Park Water Company, a privately held republic water utility company based in Downey, has been bought by Western Water Holdings LLC, a wholly-owned subsidiary of Carlyle Infrastructure Partners.The transfer of ownership was approved by the California Public Utilities Commission. The sale was announced by Park Water Company on Dec. 1. "We are delighted the CPUC approved the transaction," said Christopher Schilling, co-chief executive officer of Park Water Company. "This move is in the best interests of both our customers and our dedicated employees. We will be in a better position to fulfill our responsibilities to provide quality reliable service in the future." The CPUC noted in their approval that the ownership change would not result in changes to service or rates. Park Water Company provides water to about 11 square miles in southeast Los Angeles County.

********** Published: December 8, 2011 - Volume 10 - Issue 34