The Town of Sheridan, through a competitive RFP process, negotiated the sale of their water and sewer utilities to American Water Works Company, Inc. for $11M and certain customer rate commitments. The Town’s 2000 customers (of each utility) are now seeing significant investments from their new providers. Walden prepared an initial Feasibility Study using the Fair Market Value approach and presented the results to the Town Council. Then, Walden prepared the detailed valuation of the sewer and water assets as an advisor to the Town setting the valuation at approximately $12M. Walden’s work was included in the due diligence as expert witness testimony during the Utility Regulatory Commission review and was approved without challenge or questions by the agencies.