Obermayer Counsels BASA in $231.5 Million Landmark Acquisition by Pennsylvania American Water

After nearly three years of negotiations, Pennsylvania American Water completed its acquisition of the Butler Area Sewer Authority (BASA) on October 29, taking over operations for the wastewater system that serves over 15,000 customers across several municipalities. 

The Obermayer team provided legal counsel to the City, Township, and BASA at every stage of the transaction, worth $231.5MM.  Obermayer advised the clients from the initial structuring of the transaction and appropriately valuing the assets to negotiating the asset purchase agreement and securing PUC approval of the sale.  Prior to guiding the transaction to a successful closing, Obermayer also secured a Commonwealth Court dismissal of a suit challenging the transaction.  It was a complete team effort by Obermayer and included lawyers from, business and finance, labor and employment, tax and litigation.  The Obermayer team coordinated effectively with the clients’ leadership, solicitors, communications, and financial advisors to be a big part of this tremendous win for the Butler region. 

The transaction is now the gold standard for transparency and value to the public.