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Founder / Operator·Smart Water

Christopher (Chris) Franklin

Chairman & CEO (Executive Vice Chair-designate post American Water merger) at Essential Utilities

Bryn Mawr, PA

C(
LinkedIn
Why they matter

Leads the consolidator of U.S. water utilities and architect of the largest water-utility combination in history. Defines the policy and capital framework everyone else operates within.

Background

Chairman and Chief Executive Officer of Essential Utilities (NYSE: WTRG), the parent of Aqua America and Peoples Natural Gas, since 2015. Has led the company through one of the most aggressive consolidation programs in U.S. water utilities. In 2025 announced the $40B merger of Essential Utilities with American Water Works, in which he will serve as Executive Vice Chair of the combined entity while John Griffith assumes the President & CEO role.

Notable deals

  • 2024
    Drove Essential Utilities to $595M net income in 2024, a 17% increase, while investing $1.3B in infrastructure including PFAS mitigation.
  • 2025
    Announced $40B all-stock merger of Essential Utilities with American Water Works to create the largest U.S. publicly traded water utility.

Call-prep brief

Background

Chris has been CEO of Essential Utilities (formerly Aqua America) since 2015 and turned a pure-play water utility into a multi-utility platform spanning water, wastewater, and natural gas across 10 states. The 2025 Essential / American Water deal is his exit play, and he stays on as Executive Vice Chair.

What he cares about

  • PFAS remediation and the capex required to meet new EPA standards.
  • Municipal-to-IOU conversion: the consolidation thesis hinges on smaller municipal systems selling to larger investor-owned platforms.
  • Rate-case execution: the speed at which state PUCs approve cost recovery is the binding constraint.

Recent moves

  • Announced Essential / American Water merger ($40B EV, 2025).
  • Continues to serve as policy voice on water-infrastructure financing.

Sensitivities

  • Currently in the middle of the merger integration; can't discuss confidential matters.
  • Strong public-affairs orientation; expect well-rehearsed messaging.

Questions to ask

  1. Post-merger, where does he see the next leg of municipal-to-IOU consolidation playing out?
  2. How is the combined platform planning to absorb PFAS-related capex without rate-shock to customers?
  3. Which smart-water technology categories does he see as most likely to scale inside a large IOU?

Outreach draft

Subject
Post-merger water-utility consolidation thesis
Mr. Franklin, I lead infrastructure investing at [Firm]. The Essential / American Water combination resets the water-utility landscape, and we're refining our adjacent-services thesis around the post-merger reality. Your perspective as the architect of the consolidation is the most informed source we know of. Would you have 30 minutes for a structured conversation in the next two months? Happy to defer to your schedule. Best regards, [Your name] [Your firm]

Linked companies

Sources