News

NEW HAVEN, Conn. — July 8, 2024 — The Regional Water Authority (RWA) announced today that it has acquired the assets of the Homeowner Safety Valve (HSV) Company. HSV provides water and sewer line as well as in-home plumbing protection plans to more than 65,000 customer contracts in approximately 80 communities across Connecticut, Massachusetts, New Hampshire and Rhode Island. Terms of the asset purchase were not disclosed.

This is the RWA’s fourth commercial business acquisition since 2021 and it more than doubles the company’s service line and in-home protection business currently offered through its PipeSafe^SM water, sewer, septic line and interior plumbing protection program.

The acquisition is also part of the company’s strategic focus to grow its existing non-core portfolio of offerings, which also includes WellSafe^SM, laboratory services, fleet repair and rental income. Additionally, the RWA continues to grow its commercial services through investment and other partnerships. Net income from the RWA’s commercial business offerings is used to invest in the utility infrastructure, thereby offsetting rate increases for customers.

“With its excellent market knowledge, established customer relationships and skilled and mission-driven employees, we are very excited to welcome HSV customers to the RWA family,” said RWA President & CEO Larry Bingaman. “Much like the RWA’s PipeSafe^SM program, HSV has been safeguarding homeowners with water, sewer and in-home protection plans since 1999. The company’s dedication to service and quality complements the RWA’s commitment to providing professional, quality water-related repair and maintenance protection plans for homeowners and delivers on our higher purpose to make life better for people.”

The transaction will not impact HSV customers’ current protection coverage, terms or benefits. The company remains committed to exceptional customer service, and to providing a seamless transition.