New Jersey American Water has reached an agreement to acquire the privately owned Gordon’s Corner Water Co., the Camden-based utility announced Oct. 21.
Gordon’s Corner serves about 15,000 customers in Colts Neck, Manalapan and Marlboro townships.
If approved by the New Jersey Board of Public Utilities, the deal is expected to be completed by mid-2026. A representative for NJ American Water told NJBIZ “all regulatory requirements have been met.”
NJ American Water plans to offer positions to about 20 Gordon’s Corner employees, the company said. Gordon’s Corner President David Ern called the move “the right succession plan” for the company.
“By selling to New Jersey American Water, we are prioritizing the long-term quality and reliability of water service for generations to come,” Ern added.
Next steps
Under the terms, Gordon’s Corner shareholders will receive common stock of parent company American Water Works in exchange for all their issued and outstanding shares. Additional financial terms of the deal were not disclosed.
Gordon’s Corner will then merge into New Jersey American Water. To ensure uninterrupted service, the buyer plans to gradually connect Gordon’s Corner system with its systems in Monmouth County.
The company representative also told NJBIZ “there are no anticipated changes to customer service or rates as a result of this transaction.”
NJ American Water President Mark McDonough said the company was “honored to have the opportunity to serve” Gordon’s Corner customers.
“This acquisition is primarily about ensuring continuity of service for Gordon’s Corner customers as their company transitions out of ownership,” McDonough said. “Integrating Gordon’s Corner into our operations will help support long-term stability in the region’s overall stressed water supply.”
Growing across the state
The Gordon’s Corner deal follows several acquisitions by NJ American Water over the past five years. The transactions have added more than 26,000 new water and/or wastewater customers to its service area. Those acquisitions were:
