Shearman And Sterling

News October 29, 2021

American Water Announces Agreement to Sell its Homeowner Services Group to Funds Advised by Apax Partners

Shearman & Sterling advised American Water Works Company, Inc. (NYSE: AWK), the largest publicly traded U.S. water and wastewater utility company, in connection with the pending sale of its Homeowner Services Group to funds advised by Apax in a deal valued at approximately $1.275 billion.

American Water anticipates closing the transaction in the fourth quarter of 2021, subject to the satisfaction or waiver of customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs more than 7,000 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 46 states. American Water provides safe, clean, affordable and reliable water services to customers to help keep their lives flowing.

The Team