H2O America completes $540M Quadvest Texas water acquisition

H2O America said on October 1, 2026 that it has completed its Texas Quadvest water-and-wastewater acquisition, sealing a previously announced deal whose Item 2.01 filing puts the base purchase price at $540 million subject to customary adjustments.

H2O America closed its Texas Quadvest water-and-wastewater acquisition on October 1, 2026 — a sealed Item 2.01 Completes filing, not another pending-deal update.

Completes on October 1

H2O America (NASDAQ: HTO) said on Oct. 1, 2026 that its regulated Texas utility The Texas Water Company, Inc. (“TWC”), along with affiliate Texas Water Operation Services, LLC (“TWOS”), have completed the acquisition of all assets owned by Quadvest. The Completes press release was furnished as Exhibit 99.1 to H2O America’s Form 8-K Acc 0001628280-26-064259 under Items 2.01, 7.01, and 9.01, filed October 1, 2026.

Item 2.01 states that on October 1, 2026, pursuant to the previously disclosed asset purchase agreements, the company completed the transactions for a base purchase price of $540 million subject to certain customary purchase price adjustments. Chair and CEO Andrew F. Walters called the close a significant milestone in building a stronger utility portfolio, with Quadvest’s operations projected to deliver double-digit customer growth over the next several years in some of the country’s fastest-growing counties.

What Completes says about the Texas footprint

The Completes release says the acquisition more than doubles H2O America’s water and wastewater connections in Texas and, with Quadvest’s operations and anticipated development-pipeline buildout, H2O America expects Texas customers to represent 26% of the company’s overall customer base by 2029 — up from the 8% Texas customers represented prior to Oct. 1. It also says operations continue without interruption for customers served by Quadvest systems, with locally based employees and leadership retained. Company description in the Completes release puts H2O America among the largest investor-owned pure-play water and wastewater utilities in the United States, serving more than 1.6 million people across California, Connecticut, Maine, and Texas (including Quadvest’s operations).

What the July 2025 agreements set as consideration

The Completes Exhibit 99.1 confirms closing. It does not restate the purchase-price split. Those economics sit in H2O America’s July 8, 2025 definitive-agreement announcement (Form 8-K Acc 0001104659-25-066289 EX-99.1): TWC acquiring regulated Quadvest systems for $483.6 million and TWOS acquiring Quadvest Wholesale systems for $56.4 million, for a combined transaction value of $540 million. The announce said the deal was expected to close by mid-2026 subject to customary conditions and approvals, including Public Utility Commission of Texas approval — now sealed by the October 1 Item 2.01 Completes.

Readers should keep the layers straight: October 1 Completes seals consummation and the Item 2.01 base purchase price of $540 million (subject to customary adjustments); the $483.6 million / $56.4 million split is the announced agreement economics from July 8, 2025, not a fresh Completes re-pricing.

Why the close matters

A Completes Item 2.01 on October 1 turns the previously announced Quadvest asset purchase into a sealed close for a sizable public water-utility bolt-on whose base purchase price is $540 million — expanding H2O America’s Texas footprint into the Houston region alongside its Hill Country operations.

Sources & evidence

- H2O America Form 8-K Acc 0001628280-26-064259 Items 2.01/7.01/9.01 (filed Oct 1, 2026) — base purchase price $540 million subject to customary adjustments — https://www.sec.gov/Archives/edgar/data/766829/000162828026064259/sjw-20261001.htm - H2O America Completes Texas Subsidiary’s Acquisition of Quadvest (EX-99.1 Completes press; Oct. 1, 2026) — https://www.sec.gov/Archives/edgar/data/766829/000162828026064259/quadvestclosingpressrelease.htm - H2O America Significantly Expands Texas Footprint with Texas Subsidiary’s Acquisition of Quadvest (announce EX-99.1; July 8, 2025; Acc 0001104659-25-066289) — $483.6 million regulated + $56.4 million wholesale = combined $540 million — https://www.sec.gov/Archives/edgar/data/766829/000110465925066289/tm2519459d1_ex99-1.htm