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Duluth Firm Will Acquire St. Michael-based U.S. Water Services
2/2/2015 2:10:02 PM

In the transaction totaling $168 million, ALLETE, Inc. will assume an 87% share of U.S. Water services, with the remaining 13% retained by employees and management via stock options.

ALLETE’s more than 3600 industrial clients include a significant number of Fortune 500 companies and several fuel plants around the Midwest. The acquisition is in support of ALLETE’s strategy of investing in energy infrastructure.

Read the original article over at northwrightcounty.today.

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