Suez North America
TypeSubsidiary
IndustryUtilities
Founded1869
Headquarters
Paramus, New Jersey
,
USA
Key people
Nadine Leslie
ProductsWater treatment, waste management
Revenue$764 million (2013)
Number of employees
2,350 (2013)
ParentSuez Environnement
Websitewww.suez-na.com/en-us

Suez North America is an American water service company headquartered in Paramus, New Jersey. It owns and operates 16 water and waste water utilities, and operates 90 municipal water and waste water systems through public-private partnerships and contract agreements.[1] The company has over 2,300 employees, and in 2013, United Water generated $764 million in revenue, and managed $3.2 billion in total assets.[1] The original business was founded as Hackensack Water Company in 1869 and later named United Water. It became a subsidiary of Suez Environnement, a French-based utility company, in 2000, and changed its name to reflect that of its parent company in 2015.

History

The company was founded as the Hackensack Water Company in 1869 as a water supply and storage company. Adrian Leiby's monograph, The Hackensack Water Company, 1869-1969,[2] provides an interesting history of the company's first century, both covering key people and events and their contemporary context. The company originally served the city of Hackensack and the towns of North Hudson.[2] It grew over the decades, extending its service to other towns of northern New Jersey and building several reservoirs, including Oradell Reservoir and, in partnership with the Spring Valley Water Company just across the New York state line, Lake DeForest.[2] For a time in the early 20th century, it supplied Hoboken, although Hoboken later switched its water supply to the Jersey City water system.[2]

In 1983 Hackensack Water reorganized into United Water Resources, Inc., and in 1994 it acquired General Waterworks Corporation for $200 million.[3] In 2000, Suez Environnement acquired United Water.[4]

In November 2008, Bertrand Camus became the CEO of Suez North America.[5] In 2014, Engineering News-Record ranked Suez North America the third largest provider of water treatment and supply services in the United States.[6]

In April 2014, United Water was given a $5.5 million state tax break from the New Jersey Economic Development Authority to prevent the company from moving its headquarters out of New Jersey and into New York.[7][8] The company still planned to move out of Harrington Park, considering two New Jersey locations.[7] In June 2015, Suez Environnement opened their new North American Corporate Headquarters in Paramus, New Jersey.[9]

Activities

Water partnership model

At the 2012 meeting of the Clinton Global Initiative, United Water made a commitment to engage private investors and work with municipalities to establish agreements wherein the company would take over operations, maintenance, and capital improvement of water utilities in municipalities across the country, starting with Nassau County, New York and Bayonne, New Jersey.[10][11] This model won the Partnership Performance of the Year award at the 2012 American Water Summit.[12]

Bayonne

In December 2012, United Water and KKR, together forming the Bayonne Water Joint Venture (BWJV), entered into a concession agreement with the Municipal Utilities Authority of Bayonne, New Jersey.[13] The 40-year agreement is a public-private partnership between the BWJV and the city in which the private partners pay off the Bayonne Municipal Utility Authority's (BMUA) $130 million debt and take over the operations, maintenance, and capital improvement of Bayonne's water and wastewater utilities in exchange for a regulated share of the revenue.[14][15][16] United Water is managing the operations for the partnership, while KKR is providing 90% of the funding.[17]

Nassau County

In June 2014, Nassau County announced that it had partnered with United Water to operate its three wastewater treatment plants and sewage collection system for 20 years.[18][19] In exchange for operating the wastewater system and providing at least $10 million in savings each year, Nassau County will pay United Water $57.4 million annually (adjusted for inflation).[20] The county's financial consultant on the agreement, the PFM Group, estimated savings over the term of the contract at $233.1 million, and up to $378.9 million when synergy savings, including reduced overtime and personnel reassignments, are taken into account.[18] Nassau County will maintain ownership of the wastewater system and jurisdiction over its utility rates, which are not expected to rise.[20]

See also

References

  1. 1 2 "About Us: Facts & Figures: By the Numbers". United Water. Archived from the original on 5 July 2014. Retrieved 7 July 2014.
  2. 1 2 3 4 Leiby, Adrian C. (1969), The Hackensack Water Company, 1869-1969, In collaboration with Nancy Wichman, Bergen County Historical Society, ASIN B0006C01Q0, OCLC 13847.
  3. ↑ "United Water Resources, Inc. History". Funding Universe. Retrieved 7 July 2014.
  4. ↑ "About Us: Corporate History". United Water. Retrieved 7 July 2014.
  5. ↑ "Bertrand Camus Named to Head SUEZ ENVIRONNEMENT North America and Its Subsidiary, United Water". Businesswire.com. 18 November 2008. Retrieved 11 June 2019.
  6. ↑ "SUEZ ranked among largest North American environmental services companies". Waterworld.com. 3 September 2014. Retrieved 11 June 2019.
  7. 1 2 Morley, Hugh. "United Water, looking to move from Harrington Park headquarters, gets tax break to stay in N.J." NorthJersey.com. Retrieved 7 July 2014.
  8. ↑ Sherman, Stacie. "New Jersey Authority Awards $21.8 Million of Business Tax Breaks". Bloomberg News. Archived from the original on July 9, 2014. Retrieved 7 July 2014.
  9. ↑ "United Water seeking to sell headquarters, report says". 11 September 2015.
  10. ↑ "President Clinton Hosts President Barack Obama, Egyptian President Mohamed Morsi, and Governor Mitt Romney on Closing Day of 2012 Clinton Global Initiative Annual Meeting [Press Release]". Clinton Global Initiative. Retrieved 7 July 2014.
  11. ↑ Henning, Rich. "United Water Announces Commitment to Action at 2012 Clinton Global Initiative Annual Meeting [Press Release]". United Water. Retrieved 7 July 2014.
  12. ↑ Henning, Rich. "'Solution' Voted Best by Industry Peers at AWS [Press Release]". United Water. Retrieved 7 July 2014.
  13. ↑ Hack, Charles (July 23, 2012) "United Water to take over operations of Bayonne's water, sewer systems in $150 million deal". NJ.com
  14. ↑ Baumann, Joseph. "Bayonne Revisited: Water Partnerships One Year Later [Webinar]". Sustainable City Network. Retrieved 16 June 2014.
  15. ↑ Gao, Su (26 March 2013). "Can private equity fill the US water investment gap?". Bloomberg New Energy Finance: 1–11.
  16. ↑ Henning, Rich. "United Water and KKR Sign Unique Utility Partnership with City of Bayonne, NJ [Press Release]". United Water. Retrieved 7 July 2014.
  17. ↑ Corkery, Michael (22 April 2013). "Private Equity Tries on the Hard Hat". Wall Street Journal. Retrieved 7 July 2014.
  18. 1 2 "Mangano Announces Historic Public-Private Partnership To Operate County's Wastewater Treatment Plants & Sewage System". Nassau County, NY. Retrieved 7 July 2014.
  19. ↑ Henning, Rich. "Nassau County, NY Announces Historic Public-Private Partnership with United Water To Operate County's Wastewater Treatment Facilities & Sewage System". United Water. Retrieved 7 July 2014.
  20. 1 2 Larocco, Paul; Brodsky, Robert. "Nassau sewer system to be managed by NJ firm under multimillion-dollar deal". Newsday. Retrieved 7 July 2014.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.