The California Public Utility Commission has approved the sale of Park Water Company to the Carlyle Group. Downey based Park Water has operations in California and Montana.
The transaction will now need the approval of the Montana Public Service Commission (PSC). Park Water is the parent company of Mountain Water, an investor owned utility in Missoula. Consideration by the PSC is scheduled to begin mid-December. Missoula Mayor John Engen supports the sale, and sees this as a path to eventual ownership by the city. Engen tells NBC Montana:
I hope that gives the Montana Public Service Commission some additional comfort as it moves towards making its decision. Provided Carlyle owns the facility, we’ll have the chance to buy that company, and I think it will be a much better chance than we’ve ever had.