NW Natural Water Company, LLC (NW Natural Water), a wholly-owned
subsidiary of Northwest Natural Holding Company (NYSE:NWN) (NW
Natural Holdings), has completed the acquisition of Rose Valley
Water Company (Rose Valley Water), a water utility serving
approximately 2,400 connections in Peoria, Arizona, a major suburb
northwest of Phoenix.
“Rose Valley Water is an excellent fit for our company and we
are looking forward to continuing their legacy of service and
stewardship,” said Justin Palfreyman, NW Natural Water’s president.
“Through this acquisition, NW Natural Water establishes a footprint
in Arizona’s largest county, positioning our company for future
growth in the area.”
“NW Natural Water is the right choice for our family’s company,”
said Gary Brasher, president and owner of Rose Valley Water. “With
their focus on customer service and history of valuing
relationships, we feel confident that they’ll support our
communities in the same way our family has for decades.”
The Rose Valley Water acquisition closed on Oct. 2, 2023. With
this transaction, NW Natural Water serves more than 164,000 people
through approximately 66,000 connections across five states.
ABOUT NW NATURAL HOLDINGS
Northwest Natural Holding Company, (NYSE: NWN) (NW Natural
Holdings), is headquartered in Portland, Oregon and has been doing
business for over 160 years in the Pacific Northwest. It owns NW
Natural Gas Company (NW Natural), NW Natural Water Company (NW
Natural Water), NW Natural Renewables Holdings (NW Natural
Renewables), and other business interests.
We have a longstanding commitment to safety, environmental
stewardship and the energy transition, and taking care of our
employees and communities. NW Natural Holdings was recognized by
Ethisphere® in 2022 and 2023 as one of the World’s Most Ethical
Companies®. NW Natural consistently leads the industry with high
J.D. Power & Associates customer satisfaction scores. Learn
more in our latest ESG Report at
nwnatural.com/about-us/the-company/sustainability.
NW Natural is a local distribution company that currently
provides natural gas service to approximately 2.5 million people in
more than 140 communities through more than 795,000 meters in
Oregon and Southwest Washington with one of the most modern
pipeline systems in the nation. NW Natural owns and operates 21.6
Bcf of underground gas storage capacity in Oregon.
NW Natural Water provides water distribution and wastewater
services to communities throughout the Pacific Northwest, Texas and
Arizona. Today NW Natural Water serves more than 164,000 people
through approximately 66,000 meters and provides operation and
maintenance services to an additional 10,000 connections. Learn
more about our water business at nwnaturalwater.com.
NW Natural Renewables is a competitive business committed to
leading in the energy transition by providing renewable fuels to
support decarbonization in the utility, commercial, industrial and
transportation sectors. Learn more at nwnaturalrenewables.com.
Additional information is available at
nwnaturalholdings.com.
“World’s Most Ethical Companies” and “Ethisphere” names and
marks are registered trademarks of Ethisphere LLC
Forward-Looking Statements
This press release, and other presentations made by NW Holdings
from time to time, may contain forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by words such as
"anticipates," "assumes," "continues," "could," "intends," "plans,"
"seeks," "believes," "estimates," "expects" and similar references
to future periods. Examples of forward-looking statements include,
but are not limited to, statements regarding the following: plans,
objectives, assumptions, estimates, expectations, timing, goals,
strategies, commitments, future events, investments, timing and
amount of capital expenditures, targeted capital structure, risks,
risk profile, stability, acquisitions and timing, approval,
completion and integration thereof, the likelihood and success
associated with any transaction, utility system and infrastructure
investments, system modernization, reliability and resiliency,
global, national and local economies, customer and business growth,
continued expansion of service territories, customer satisfaction
ratings, weather, performance and service during weather events,
customer rates or rate recovery and the timing and magnitude of
potential rate changes and the potential outcome of rate cases,
environmental remediation cost recoveries, environmental
initiatives, decarbonization and the role of natural gas and the
gas delivery system, including decarbonization goals and timelines,
energy efficiency measures, use of renewable sources, renewable
natural gas purchases, projects, investments and other renewable
initiatives, including the construction of RNG facilities, and
timing, magnitude and completion thereof, unregulated renewable
natural gas strategy and initiatives, renewable hydrogen projects
or investments and timing, magnitude, approvals and completion
thereof, procurement of renewable natural gas or hydrogen for
customers, technology and policy innovations, strategic goals and
visions, water and wastewater acquisitions, partnerships, and
investment strategy and financial effects of water and wastewater
acquisitions, expected growth and safety benefits of facility
upgrade investments, diversity, equity and inclusion initiatives,
operating plans of third parties, financial results, including
estimated income, availability and sources of liquidity, expenses,
positions, revenues, returns, cost of capital, timing, and
earnings, earnings guidance and estimated future growth rates,
future dividends, commodity costs and sourcing asset management
activities, performance, timing, outcome, or effects of regulatory
proceedings or mechanisms or approvals, regulatory prudence
reviews, anticipated regulatory actions or filings, accounting
treatment of future events, effects of legislation or changes in
laws or regulations, effects, extent, severity and duration of
epidemics and pandemics, and any resulting economic disruption
therefrom, geopolitical uncertainty and other statements that are
other than statements of historical facts.
Forward-looking statements are based on current expectations and
assumptions regarding its business, the economy, geopolitical
factors, and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. Actual results may differ materially from
those contemplated by the forward-looking statements. You are
therefore cautioned against relying on any of these forward-looking
statements. They are neither statements of historical fact nor
guarantees or assurances of future operational, economic or
financial performance. Important factors that could cause actual
results to differ materially from those in the forward-looking
statements are discussed by reference to the factors described in
Part I, Item 1A "Risk Factors", and Part II, Item 7 and Item 7A
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" and "Quantitative and Qualitative Disclosure
about Market Risk" in the most recent Annual Report on Form 10-K
and in Part I, Items 2 and 3 "Management's Discussion and Analysis
of Financial Condition and Results of Operations" and "Quantitative
and Qualitative Disclosures About Market Risk", and Part II, Item
1A, "Risk Factors", in the quarterly reports filed thereafter,
which, among others, outline legal, regulatory and legislative
risks, epidemics and pandemics risks, macroeconomic and
geopolitical risks, growth and strategic risks, operational risks,
and environmental risks.
All forward-looking statements made in this report and all
subsequent forward-looking statements, whether written or oral and
whether made by or on behalf of NW Holdings or NW Natural, are
expressly qualified by these cautionary statements. Any
forward-looking statement speaks only as of the date on which such
statement is made, and NW Holdings and NW Natural undertake no
obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by law. New factors emerge
from time to time and it is not possible to predict all such
factors, nor can it assess the impact of each such factor or the
extent to which any factor, or combination of factors, may cause
results to differ materially from those contained in any
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20231002808044/en/
Investor Contact: Nikki Sparley Phone: 503-721-2530
Email: nikki.sparley@nwnatural.com
Media Contact: David Roy Phone: 503-610-7157 Email:
david.roy@nwnatural.com
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