Company Overview

Global Water Resources, Inc. is a water resource management company operating primarily in the water utilities industry, with a focus on owning, operating, and managing regulated water, wastewater, and recycled water systems. The company’s core business is providing essential water-related services to residential, commercial, and municipal customers, generating revenue primarily through regulated utility rates approved by state authorities.

The company is uniquely positioned through its Total Water Management (TWM) approach, which integrates potable water, wastewater, and reclaimed water systems to maximize efficiency and long-term water sustainability. Founded in 2003, Global Water Resources evolved through the acquisition and consolidation of utility systems, particularly in high-growth areas of the Southwestern United States, and completed its initial public offering in 2016, becoming publicly traded on NASDAQ under the ticker GWRS.

Business Operations

Global Water Resources operates through regulated utility subsidiaries that own and manage water and wastewater infrastructure. Its primary revenue is derived from regulated water and wastewater services, including connection fees, recurring service charges, and consumption-based fees. The company’s operations emphasize long-term contracts and regulatory frameworks that provide relatively stable and predictable cash flows.

The company’s assets include water rights, treatment facilities, pipelines, storage systems, and reclaimed water infrastructure. Operations are conducted almost entirely through wholly owned subsidiaries, most notably Global Water – Santa Cruz Water Company, Inc. and Global Water – Palo Verde Utilities Company, Inc., which serve master-planned communities and municipalities. There are no material joint ventures disclosed in public filings, and the company relies primarily on internal operational expertise rather than external technology licensing.

Strategic Position & Investments

Global Water Resources’ strategic direction centers on expansion within water-scarce, high-growth regions where integrated water management offers regulatory and economic advantages. Growth initiatives include the acquisition of adjacent or nearby utility systems, organic customer growth within existing service territories, and infrastructure investment to support population growth.

The company has historically pursued targeted acquisitions of small to mid-sized water and wastewater utilities, integrating them into its TWM framework. Investments are focused on infrastructure upgrades, reclaimed water systems, and capacity expansion rather than diversification into unrelated sectors. Emerging emphasis includes water reuse and conservation technologies, though these remain supportive to core regulated utility operations rather than standalone business lines.

Geographic Footprint

Global Water Resources’ operations are concentrated in Arizona, which represents the vast majority of its revenue and assets. The company is headquartered in Phoenix, Arizona, and serves customers primarily in Pinal County and surrounding high-growth metropolitan areas.

While the company does not maintain international operations, its geographic footprint within the Southwestern United States provides strategic exposure to regions facing long-term water scarcity and population growth. This regional focus allows Global Water Resources to align closely with state-level water policy, regulatory bodies, and long-term urban development plans.

Leadership & Governance

Global Water Resources was founded by William (Bill) Levine, who continues to play a central role in shaping the company’s long-term vision around sustainable water management. Leadership emphasizes regulatory compliance, infrastructure stewardship, and disciplined capital allocation within a utility-focused governance framework.

Key executives include:

• William S. Levine – Founder and Executive Chairman
• Ronald J. Fleming – President and Chief Executive Officer
• Sharon A. Megdal – Director
• Albert J. DiPietro – Chief Financial Officer
• David Brown – Chief Operating Officer

The leadership team’s strategic philosophy prioritizes long-duration assets, predictable returns, and alignment with public water policy objectives, reflecting the company’s positioning as a long-term infrastructure operator rather than a short-term growth-oriented utility.