India, Oct. 5 -- Advanced Drainage Systems, Inc. (WMS), a provider of water management solutions, said Monday it has agreed to acquire StormTrap Investments LLC, a provider of engineered stormwater storage solutions, from From PSP Capital for about $530 million.
The transaction value is approximately $450 million when adjusted for the present value of expected tax benefits. ADS said it will fund the acquisition with cash on hand and existing credit line capacity.
StormTrap generated approximately $165 million in revenue and $40 million in adjusted EBITDA for the 12 months ended July 2026. The transaction represents a multiple of about 10 times adjusted EBITDA, including expected run-rate cost synergies, after estimated tax benefits. ADS e...