Apax to acquire Homeowner Services Group from American Water Works Company for $1.275bn.

Apax, a private equity firm, agreed to acquire Homeowner Services Group, a warranty protection program provider, from American Water Works Company, water and wastewater utility company, for $1.275bn. “American Water has successfully grown our Homeowner Services Group over the last 20 years, creating great value. This transaction allows us to capitalize on that value creation by utilizing the proceeds to invest in our regulated businesses. As we have continuously communicated, our strategy is to operate where we can best serve customers, drive efficiencies, invest in our systems and grow our regulated water and wastewater businesses,” added Lynch. “We look forward to outlining the transaction further, as we discuss our long-term financial plan at our next virtual investor day on November 3, 2021," Walter Lynch, American Water President and CEO.