Investment Banking - Connecticut Water Service Inc.

Transactions | Infrastructure/Environmental/Water

Client: Connecticut Water Service Inc.
Industry: Infrastructure/Environmental/Water
Transaction Type: Common Stock Offering
Role: Co-Manager

  • Connecticut Water Service, Inc., (NASDAQ: CTWS) (“Connecticut Water”) through its subsidiaries, operates as a regulated water company in Connecticut. It operates through three segments: Water Activities, Real Estate Transactions, and Services and Rentals. Connecticut Water was founded in 1956 and is headquartered in Clinton, Connecticut.
  • Connecticut Water sold 1.7 million shares in the follow-on transaction yielding gross proceeds of $49.62 million dollars, including the overallotment.
  • The proceeds of the offering were used to repay acquisition financing for Biddeford & Saco Water Co. as well as for general corporate purposes.
  • The firm served as a co-manager in the transaction.