Advanced Drainage Systems Acquires DURASLOT, Inc.
Terms of the transaction were not disclosed.
HILLIARD, OHIO, AUG 3, 2017 --Advanced Drainage Systems, Inc. ("ADS") (NYSE:WMS), a leading global manufacturer of water management products and solutions for commercial, residential, infrastructure and agricultural applications, today announced that it has acquired DURASLOT, Inc., a manufacturer of stormwater collection surface drains used in a variety of construction applications. This transaction is consistent with ADS' strategy of making synergistic tuck-in acquisitions to leverage the existing footprint and sales network as well as to supplement organic growth. Terms of the transaction were not disclosed.
"We are excited to welcome the DURASLOT product into the ADS family of Allied Products," said Joe Chlapaty, Chairman and Chief Executive Officer. "DURASLOT is a proven product technology that ADS knows well having used it on certain applications over the years. We feel DURASLOT broadens our solutions offering and growth opportunities, and we will look to leverage our nationwide sales, engineering, manufacturing and customer network to further increase its market presence."
About Advanced Drainage
Advanced Drainage Systems is a leading manufacturer of high performance thermoplastic corrugated pipe, providing a comprehensive suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. Its innovative products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. The Company has established a leading position in many of these end markets by leveraging its national sales and distribution platform, its overall product breadth and scale and its manufacturing excellence. Founded in 1966, the Company operates a global network of approximately 60 manufacturing plants and 30 distribution centers.