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Ascension Wastewater Treatment acquired by Bernhard Capital; customers to be granted rebate

7 months 3 weeks 9 hours ago Thursday, April 09 2020 Apr 9, 2020 April 09, 2020 6:25 AM April 09, 2020 in News
Source: WBRZ
Ascension Wastewater Treatment, the largest private sewer utility operator in the state, has been acquired by a group of investors led by Bernhard Capital Partners Management.

ASCENSION PARISH - Ascension Wastewater Treatment, the largest private sewer utility operator in the state, has been acquired by a group of investors led by Bernhard Capital Partners Management.

Bernhard Capital announced the acquisition Thursday morning, stating that it planned to immediately implement a two-month rebate for all AWT customers to assist them during the financial crunch caused by the COVID-19 pandemic. 

The group explained the rebate, stating that it, "represents an average rebate of $90 per customer over the two-month billing cycle. In total, it will credit approximately $1.5 million to AWT customers."

The new owners also announced the donation of thousands of protective face masks to Our Lady of the Lake Ascension in support of healthcare workers who are responding to the pandemic. 

One of Bernhard Capital's most recognizable partners, Jim Bernhard issued a statement regarding the acquisition and the group's immediate actions in support of its customers and community during the health crisis, saying, "As investors, we have a social obligation to the communities we serve."

"We see no better way to help our customers, and the Ascension Parish community, than to provide some relief for their monthly obligations and needs at a time when families, small businesses and local hospitals are being so terribly impacted by this pandemic."

Click here for more information on Bernhard Capital. 

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