Advanced Drainage Systems to acquire StormTrap for $530 million
Advanced Drainage Systems agreed on October 1, 2026 to acquire StormTrap Investments, a stormwater solutions maker, for approximately $530 million, or about $450 million after adjusting for the present value of expected tax benefits. The deal is funded with cash on hand and existing credit facility capacity and is expected to close in the fourth quarter of calendar 2026, subject to regulatory approvals.
Key points
- Purchase price of approximately $530 million, or approximately $450 million adjusted for the present value of expected tax benefits, subject to purchase price adjustments
- StormTrap generated approximately $165 million in revenue and approximately $40 million in adjusted EBITDA for the twelve months ending July 2026, per the press release
- Funded by cash on hand and the existing credit facility; the company expects the deal to be accretive to adjusted EPS in the first year
- Expected to close in the fourth quarter of calendar 2026; the company has obtained a representations and warranties insurance policy
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:17 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 05, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.