HILLIARD, Ohio, Nov 13 — Advanced Drainage Systems, Inc. (NYSE: WMS) (“ADS” or the “Company”), a leading provider of innovative water management solutions in the stormwater and onsite wastewater industries today announced that it has completed the previously disclosed acquisition of StormTrap Investments LLC (“StormTrap”), an industry leader in large volume, space-constrained, highly engineered stormwater solutions.
This transaction expands ADS’ addressable market with a complementary offering in stormwater storage solutions, fits with ADS’ specification driven, go-to-market capabilities, provides cross-selling opportunities and offers further growth opportunities linked to secular and regulatory tailwinds related to stormwater management and expands customer relationships.
“We are excited to officially close this transaction and welcome StormTrap to the ADS family,” said Scott Barbour, Chief Executive Officer and President of ADS. “This transaction builds on the progress we have made transforming ADS into a more diversified water solutions business with an enhanced product portfolio that we bring to customers across the water value chain. With our disciplined approach to integration and capital allocation, we believe this acquisition positions us well to create long-term value and advance our strategy and exposure in an attractive, growing segment of the market.”
