Carlyle Group

Missoula Mayor Jon Engen went before the City Council this afternoon to discuss updates within the Mountain Water Company acquisition process.

The Mountain Water Company has launched a new website that answers frequently asked questions regarding its positions on the company's forced takeover by the City of Missoula through condemnation.

On Friday morning, Mayor John Engen was informed that the Carlyle Group had agreed to sell Missoula's Mountain Water Company to a Canadian company, Algonquin Power and Utilities Company in Ontario.

Today, September 19, the Canadian company Algonquin Power and Utilities, announced that it had agreed to purchase Mountain Water Company from the Carlyle Group for $327 million.

During a city council meeting today, September 17, attorneys from the law firm Boone-Karlburg presented some of their findings concerning the relationship with the Montana Public Service Commission and Mountain Water.

Missoula Mayor John Engen calls the nearly $4 million the city may spend in legal fees to acquire the Mountain Water Company from the Carlyle Group as essentially 'closing costs'.

Ward Two City Councilor Adam Hertz said on Sunday that Mayor John Engen and the Missoula City Council bear the responsibility for increased taxes or eventual higher rates once the Mountain Water lawsuit is decided.

Missoula Mayor John Engen received a letter on Wednesday from the Carlyle Group informing the city that Park Water, of which Mountain Water is a subsidiary, is officially for sale.

At a Missoula City Council meeting on Wednesday, February 12, council members and the public heard about the financial numbers involved in the purchase of the Mountain Water Company.

A private equity firm that owns Missoula's water system has rejected the city's $50 million offer to buy the assets of Mountain Water Co.