American Water buys Monmouth County utility

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Voorhees-based America Water is buying the Shorelands Water Company, a privately owned utility that serves Monmouth County, it announced Wednesday.The water and wastewater utility said in a news release that it has signed an agreement to acquire Shorelands, which serves more than 11,000 accounts in central New Jersey. Terms of the transaction were not disclosed.

“This important acquisition provides a direct link with our water system serving the community of Union Beach, enhancing supply to the northeastern sections of Monmouth County that we serve,” Bill Varley, president of subsidiary New Jersey American Water, said in a prepared statement. “The strength of the Shorelands system will help New Jersey American Water achieve a goal of increased reliability for customers without the need for additional projects that were being evaluated.”

The deal must be reviewed and approved by the state Board of Public Utilities.

Shorelands, which was established in 1926 and has been owned by the current group since 1957, will mark American Water’s fourth expansion of service in the Garden State this year.

Earlier in 2016, American Water bought Environmental Disposal Corporation, which serves Bernards and Bedminster, and New Jersey American Water bought the former Roxiticus Water Company in Mendham and began serving Elk Township.