Investment Banking - American Water Works Company, Inc.

Transactions | Infrastructure/Environmental/Water

Client: American Water Works Company, Inc.
Industry: Infrastructure/Environmental/Water
Transaction Type: Common Stock Offering
Role: Co-Manager

  • Founded in 1886 and headquartered in Voorhees, New Jersey, American Water Works, Inc. (NYSE:AWK) is the largest investor-owned water and wastewater company .  The company’s primary business involves the ownership of regulated water and wastewater utilities that provide services to residential, commercial and industrial customers.
  • With nearly 7,300 employees, American Water Works provides approximately 15  million people with drinking water and wastewater services across 32 states and Ontario, Canada.
  • American Water Works sold 14.5 million shares in the transaction for gross proceeds of $250 million to be used for debt repayment and support its on-going capital expenditure program.
  • The selling Shareholder, RWE Aktiengesellschaft, a $68 billion public energy company based in Germany, further reduced its stake in American Water Works by selling 15.4 million shares. RWE’s post transaction ownership is 46.6%.
  • Boenning & Scattergood acted as a co-manager in the offering.