Riker Danzig has represented The Hills Development Company in its successful sale of Environmental Disposal Corp. (EDC) to American Water Works Company, Inc., the nation’s largest publicly traded water and wastewater utility company. EDC provides wastewater collection and treatment service to more than 5,300 customers in its service territory in Bedminster and Bernards Townships, New Jersey, and wastewater treatment service for non-service area sewage generated in the Somerset County communities of Bedminster, Far Hills and Peapack & Gladstone. The transaction was approved by the New Jersey Board of Public Utilities on December 16, 2015, and closed on Monday, January 4, 2016.
The Riker Danzig deal team was led by partners Edward DeHope and Jason Navarino, and included partner Robert Daleo and associates Nicole Figliolina, Michael LaTempa and Diane Hickey. Ed has represented Hills Development and EDC for over 25 years, since shortly after the former began build-out of The Hills Development in Bedminster and Bernards Townships and established EDC to provide sewer services to the residents of the Development.
For this transaction, Riker was able to combine its strengths in the areas of public utilities, corporate and tax work to help a longstanding client complete its exit from a successful development project begun in the 1980s. Ed DeHope stated, “We at Riker have enjoyed the challenge of assisting a developer committed to providing quality sewer service to not only serve the needs of residents in the development but to provide needed sewage treatment service to municipal customers within the region.”
For press coverage of the transaction, go to Yahoo Finance and NJBIZ.
