Indiana American Water Completes Acquisition of Silver Creek Water Corporation

Indiana American Water completed its $45 million acquisition of the Silver Creek Water Corporation (SCWC), as of November 6, 2024. The membership-owned water utility serves approximately 8,000 water customers from Silver Creek and Carr Townships in Clark County, and New Albany Township in Floyd County in southern Indiana.

“Silver Creek Water Corporation has been a highly valued wholesale water customer, and we are thrilled to welcome their customers and employees to Indiana American Water,” said Matthew Prine, president of Indiana American Water. “We look forward to providing our new customers with high-quality water service and a wide range of benefits, including water usage tools, flexible payment options, and the ability to report concerns and receive alerts through the MyWater customer service portal.”

The acquisition follows a member referendum in November 2023, where over 74 percent approved the sale to Indiana American Water. Former SCWC members will benefit from the sale proceeds distribution, which will be managed by the Silver Creek Water Corporation board of directors.

On September 4, 2024, the Indiana Utility Regulatory Commission (IURC) approved the sale, allowing Indiana American Water to serve SCWC customers immediately after the closing of the transaction.

“Selling the water system to Indiana American Water was not a decision that we took lightly. But it was not a decision that we could make alone. The members ultimately voted and determined that it was the right decision for our community,” said Doug Chumbler, board president of SCWC. “This professional company has the size and expertise to stay at the forefront of water quality and safety technologies, ensuring our systems remain modernized. This is crucial for providing safe, reliable, and affordable water services to residents.”