UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: October 8, 2019
MIDDLESEX WATER COMPANY
(Exact name of registrant as specified in its charter)
| NEW JERSEY | 0-422 | 22-1114430 |
| (State or other jurisdiction of | (Commission | (I.R.S. Employer |
| incorporation or organization) | File Number) | Identification No.) |
485C ROUTE ONE SOUTH, SUITE 400, ISELIN, NEW JERSEY 08830
(Address of Principal Executive Offices) (Zip Code)
732-634-1500
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock | MSEX | NASDAQ |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item. 8.01. Other Events
Middlesex Water Company announces it has received approval from the Delaware Public Service Commission to acquire the Wilkerson Water Company and the Broadkiln Beach Water Company, both in Delaware, as set forth in the attached press release.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits
| Exhibit | |
| Number | Description of Document |
| 99.1 | Press Release issued by Middlesex Water Company, dated October 8, 2019. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf of the undersigned hereunto duly authorized.
| MIDDLESEX WATER COMPANY | |
| (Registrant) | |
| s/A. Bruce O’Connor | |
| A. Bruce O’Connor | |
| Senior Vice President, Treasurer and | |
| Chief Financial Officer |
Dated: October 8, 2019
MIDDLESEX WATER SUBSIDIARY
TO ACQUIRE
WATER SYSTEMS
| · | Acquisition to add 1,000 customers |
| · | Strategic fit adds to expanding Delaware customer base |
| · | Local acquisition expected to yields economies of scale and operations synergies |
ISELIN, NJ, (October 8, 2019) - Middlesex Water Company (“Middlesex” or the “Company”) (NASDAQ:MSEX) a provider of water and wastewater services, today announced that its subsidiary, Tidewater Utilities, Inc. (“Tidewater”), has received approval from the Delaware Public Service Commission (DEPSC) to acquire the Wilkerson Water Company (Wilkerson) and the Broadkiln Beach Water Company (Broadkiln), both in Delaware, from J.H. Wilkerson & Son, Inc. Customers of these companies will be served by Tidewater’s regulated water utility business that currently serves more than 47,000 accounts throughout Delaware.
The DEPSC approval also authorizes Tidewater to maintain the existing rates the Wilkerson and Broadkiln customers currently pay. Wilkerson provides service through over 500 customer connections through 7 community water systems in Kent and Sussex Counties, Delaware. Broadkiln provides service through over 500 customer connections in the Broadkiln Beach community bordering the Delaware Bay in Sussex County, Delaware.
“We are pleased to welcome customers of Wilkerson Water and Broadkiln Beach Water Companies to the Tidewater family and thank David Wilkerson for working to ensure a smooth transition,” said A. Bruce O’Connor, President of Tidewater Utilities. “Tidewater’s team of experienced professionals look forward to providing the high quality, local and reliable water service customers have depended upon under the leadership of the Wilkerson family.” The transaction is expected to close within sixty days.
About Tidewater Utilities, Inc.
Tidewater was established in 1964 and provides a wide range of water and wastewater services including consulting, contract operations and maintenance and bulk water supply. For more information about Tidewater, visit www.tuiwater.com or call 302-734-7500.
About Middlesex Water Company
Organized in 1897, Middlesex Water provides regulated and unregulated water and wastewater utility services in New Jersey, Delaware and Pennsylvania through various subsidiary companies.
For additional information regarding Middlesex Water Company, visit the Company’s web site at www.middlesexwater.com or call (732) 634-1500.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, our long-term strategy and expectations, the status of our acquisition program, the impact of our acquisitions, the impact of current and projected rate requests and the impact of our capital program on our environmental compliance. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions, unfavorable weather conditions, the success of certain cost containment initiatives, changes in regulations or regulatory treatment, availability and the cost of capital, the success of growth initiatives and other factors discussed in our filings with the Securities and Exchange Commission.
Media Contact:
Bernadette Sohler, Vice President – Corporate Affairs
Middlesex Water Company
bsohler@middlesexwater.com
(732) 638-7549