Pivotal Home Solution Acquired by American Water
By Michelle Sonali
Updated: May 22nd, 2019
U.S.’s largest publicly traded water and wastewater utility company, American Water Works Company, Inc. (NYSE:AWK) announced that it has completed acquiring Pivotal Home Solutions from Southern Company Gas. American Water acquired the company from the subsidiary of Southern Company for $363.7 million in cash which includes the estimated working capital.
Pivotal Home Solutions that has its operations in 18 states across the country with a customer base of 1.2 million customers, will join the Home Services Group of American Water. Pivotal will sustain its operations under the same name in Naperville, Ill., and continue to secure a wide range of home systems, appliances, and service lines inside and around homes.
The CEO of American Water, Susan Story, said that she was excited to welcome the Pivotal Home Solutions team into their organization. She added that they’d leverage the commitment that both the teams offered and provide more peace of mind along with unmatched service to home warranty customers across the U.S.
American Water’s Homeowner Services Group provides its services in 43 states and Washington D.C., and its current customer base includes 1.8 million contracts (this does not include Pivotal’s customer base). The Homeowner Services Group has been providing home protection plans for over 15 years and has an A+ rating with the BBB. It provides its services to homeowners through municipal partnerships with Orlando Utilities Commission, New York Department of Environmental Protection, Nashville Metro Water Service, and a few others.
About Pivotal Home Solutions
Pivotal Home Solutions has been in business since 1992 and has been protecting homeowners from the cost of unexpected repairs through its home warranty plans. Its plans cover home systems, lines and/or appliances. The company carries out its operations in 18 states across the U.S. with a customer base of nearly 1.2 million for its repair and maintenance programs.
About American Water
American Water which was established in 1886 is the largest U.S. publicly-traded water and wastewater utility company. It has a wide geographical span and provides regulated and market-based drinking water, wastewater, and other related services to approximately 15 million people across 46 states, the District of Columbia, and Ontario in Canada. It supports these enormous operations with the help of more than 6,900 dedicated professionals.
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