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LIDA Acquisition

The York Water Company Closes on Acquisition of Letterkenny Industrial Development Authority (LIDA) Water and Wastewater Systems in Franklin County

The York Water Company (NASDAQ:YORW) President and CEO JT Hand today announced that the Company has closed on the acquisition of the water and wastewater systems jointly owned by the Letterkenny Industrial Development Authority (LIDA) and Franklin County General Authority (FCGA) and began serving its newest customers in Greene and Hamilton Townships in Franklin County, Pennsylvania.

This is York Water’s first water system and second wastewater system in Franklin County. York Water acquired the wastewater assets of the Letterkenny Township Municipal Authority in 2020. President Hand acknowledged the pride and energy surrounding this acquisition.

“We are excited to further expand our service territory in Franklin County, providing our exceptional water and wastewater services to the Letterkenny Army Depot, the Cumberland Valley Business Park, and the customers of the FCGA. We recognize and respect the important mission the military and civil servants support at Letterkenny Army Depot. We take great pride in being able to serve those who serve the Nation and our Nation’s warfighters. FCGA and LIDA have been tenacious and visionary in positioning Franklin County for growth and investment in the Cumberland Valley Business Park. York Water is excited to provide resilient, reliable, and sustainable utility service to help FCGA/LIDA achieve the economic potential they have envisioned.”

LIDA and FCGA currently serve approximately 165 metered water customers and 135 metered wastewater customers with the majority of those connections supporting military and logistics tenants of the Depot. The acquisition includes all of the water and wastewater production and treatment assets, water distribution and wastewater collection assets, and the Roxbury Reservoir.

LIDA Executive Director, Kip Feldman, stated, “LIDA/FCGA chose York Water because of their high standards and commitment to quality products and services for our customers. We needed a proven utility ally who delivers exceptional levels of operational expertise, along with the financial muscle to take our systems into the future, and that’s York Water.”

York Water now provides water and wastewater services in 54 municipalities in York, Franklin, and Adams counties.

Important Notice: This news release may contain forward-looking statements regarding the Company’s operational and financial expectations. These statements are based on currently available information and are subject to risks, uncertainties, and other events which could cause the Company’s actual results to be materially different from the results described in this statement. The Company undertakes no duty to update any forward-looking statement.

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