Canyon Lake’s water provider, The Texas Water Company (TWC), will file an application with the Public Utility Commission of Texas (PUCT) this month requesting approval of its acquisition of Quadvest LP Assets, an investor-owned Houston company which builds initial water-delivery and wastewater systems for developers of new homes and subdivisions.
The deal is expected to close midyear and will expand TWC’s footprint from the Hill Country into the greater Houston metropolitan area, one of the fastest-growing regions in the country.
TWC will become the second-largest regulated, private Texas water and wastewater company.
California-based H2O America, which owns TWC, announced the merger in a Dec. 29, 2025 press release. TWC made the acquisition with its affiliate, Texas Water Operation Services.
“We appreciate the hard work of all parties involved during the appraisal process,” TWC President Aundrea Williams, also a member of H20 America’s Operations Committee, said. “We believe the fair market values determination supports our previously communicated benefits of the transaction.”
Canyon Lake’s water utility said little will change for its customers but anticipates possible rate increases as it makes significant investments in water infrastructure.
“In this next chapter,” TWC said it will:
- Serve customers with greater capabilities.
- Invest in upgrading Texas Hill Country local water systems, with $133 million in capital infrastructure.
- Bring new water supply online and strengthen water resiliency.
- Serve customers from local facilities in the Texas Hill Country.
- Better position itself to meet rapid growth across the Texas Hill Country.
- Prioritize customer value by making critical investments with affordability in mind.
TWC’s corporate parent, SJW Group, changed its name to H20 America in May 2025.
About Quadvest
TWC said the company’s built water delivery and wastewater systems for the greater Houston area since 1978. Quadvest has 47,000 active connections, 89,000 connections under contract and pending development, 50 water treatment plants, 27 wastewater treatment plants, and 89 lift stations and underground assets serving 69 developments.
According to a December 2025 investor presentation by H20, Quadvest has experienced double-digit customer growth and will drive Texas from seven percent of its customer base to 26% by 2029.
Quadvest is described as a 142,000-plus connection opportunity that increases H20’s exposure to the “constructive Texas market.”
“Strong relationships with housing developers and customers in Texas present significant capital investment opportunity to continue robust track-record of growth and ongoing delivery of reliable and valuable water and wastewater services.”