H2O America Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by H2O America on March 2, 2026. The filing discloses the submission of audited financial statements for two entities, Quadvest Retail and Quadvest Wholesale, which are the subjects of pending acquisition transactions announced on July 7, 2025.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures for H2O America or the target entities within the text of this report. The audited financial statements for the years ended December 31, 2025, for Quadvest Retail and Quadvest Wholesale are included as Exhibits 99.1 and 99.2, respectively, but the numerical data is not embedded in the filing text provided.
Material Changes and Transaction Details
The primary material event is the pending acquisition of two water and sewer utility businesses from Quadvest, L.P. and its affiliate. The transactions are structured as follows:
- Regulated Business Transaction: Acquisition of substantially all assets of Quadvest Retail's water and sewer utility business. The base purchase price is $483.6 million, subject to capital expenditure adjustments.
- Wholesale Business Transaction: Acquisition of substantially all assets of Quadvest Wholesale's wholesale water and sewer business. The base purchase price is $56.4 million, subject to capital expenditure adjustments.
- Total Base Consideration: Approximately $540.0 million combined.
Both transactions are subject to various closing conditions and must close simultaneously.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future performance, or specific risk factors beyond the standard closing conditions for the acquisitions. The transactions remain contingent upon the satisfaction of terms set forth in the Asset Purchase Agreements.
Investor Verification Checklist
- Review Exhibits 99.1 and 99.2 for the detailed audited financial statements of Quadvest Retail and Quadvest Wholesale for the year ended December 31, 2025.
- Verify the specific capital expenditure adjustments that may alter the final purchase price of $540.0 million.
- Confirm the status of the closing conditions required for the simultaneous completion of both transactions.
- Assess the impact of the acquisition on H2O America's capital structure and liquidity, as these details are not provided in the summary text.