CAMDEN: New Jersey American Water Tuesday announced an agreement to acquire the privately held Gordon’s Corner Water Company, a move that would bring approximately 15,000 customers in Monmouth County under its service.
The acquisition, which requires state regulatory approval, is expected to be completed by mid-2026. Gordon’s Corner serves customers in portions of Colts Neck, Manalapan and Marlboro townships.
David Ern, president of Gordon’s Corner Water Company, said the sale ensures customers remain the priority. “By selling to New Jersey American Water, we are prioritizing the long-term quality and reliability of water service for generations to come,” Ern stated in a release.
New Jersey American Water plans to integrate the Gordon’s Corner system with its existing Monmouth County infrastructure. The company said this will create redundancy in the water system, which faces high demand during summer tourism and irrigation months, and help ensure a stable long-term water supply.
Mark McDonough, president of New Jersey American Water, said the company is “honored” for the opportunity and will focus on a smooth transition for customers. The company also committed to offering employment to approximately 20 Gordon’s Corner employees.
The transaction will be conducted through a stock merger, with Gordon’s Corner shareholders receiving common stock of American Water (NYSE: AWK) in exchange for their shares.
New Jersey American Water said it will maintain Gordon’s Corner’s current rates at the time of closing. Any future rate changes would be subject to review and approval by the New Jersey Board of Public Utilities.
Customers who need financial assistance can apply through New Jersey American Water’s H2O Help to Others Program.