Indiana American Water has finalized its $45 million acquisition of Silver Creek Water Corporation (SCWC) as of November 6, 2024. SCWC, a membership-owned utility, serves about 8,000 customers across Silver Creek and Carr Townships in Clark County, as well as New Albany Township in Floyd County, southern Indiana.
“Silver Creek Water Corporation has been a valued wholesale partner, and we’re excited to welcome its customers and employees to Indiana American Water,” said Matthew Prine, President of Indiana American Water. “We’re committed to delivering high-quality water services along with added benefits like water usage tools, flexible payment options, and MyWater portal access for reporting concerns and receiving alerts.”
The acquisition, approved by a member referendum in November 2023 with over 74% in favor, allows SCWC members to benefit from the sale proceeds, which will be distributed by the SCWC board.
Following regulatory approval from the Indiana Utility Regulatory Commission (IURC) on September 4, 2024, Indiana American Water began serving SCWC customers immediately upon closing.
“Selling to Indiana American Water wasn’t a decision we made lightly,” said Doug Chumbler, SCWC board president. “The members ultimately voted, deciding it was best for our community. Indiana American Water’s scale and expertise in water quality and safety technology ensure our systems remain updated, delivering safe, reliable, and affordable water services to residents.”
Customers will soon receive additional information by mail and can view a welcome video on YouTube. For billing or account inquiries, they may visit the Indiana American Water website under Customer Service & Billing.
This acquisition marks Indiana American Water’s seventh in the past five years, with many municipalities and membership-owned utilities choosing Indiana American Water for benefits like long-term rate stability, access to capital, efficient operations, and cost-effective procurement through its buying power.
