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Cline Butte Water sold to Texas firm

June 6, 2017

Bend Bulletin

Cline Butte Water LLC, provider of water to 1,600 customers at Eagle Crest Resort near Redmond, has been sold to a Texas utility.

SouthWest Water Co., of Sugar Land, Texas, purchased the utility, and the affiliated company that provides wastewater treatment, Cline Butte Environmental LLC, from Oregon Resorts LLC for an undisclosed sum. The Oregon Public Utility Commission approved the purchase in May, according to PUC records.

The agreement calls for SouthWest to operate Cline Butte Water as a stand-alone entity, not subject to rate increases to cover costs elsewhere in the SouthWest coverage area.

Also, the New Cline Butte Water LLC will not seek any rate increases for 23 months, nor seek a rate increase to cover the purchase cost, according to the PUC order.

SouthWest serves more than 500,000 residential and business customers in Alabama, California, Oklahoma, South Carolina and Texas, has a book value of $367 million and annual revenues of $143.6 million. It also purchased, for an undisclosed amount, Running Y Water LLC, another Oregon Resorts utility near Klamath Falls.

Oregon Resorts’ parent company, Northview Hotel Group, also owns Brasada Ranch resort, near Powell Butte. According to a PUC filing, Oregon Resorts sought to divest itself of the utilities in order to focus on its core businesses.

– See more at: http://www.bendbulletin.com/business/5357074-151/cline-butte-water-sold-to-texas-firm#sthash.4akpSomd.dpuf

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