Advanced Drainage Systems to Acquire StormTrap in $530 Million Deal
MT newswire2026/10/05 11:1607:16 AM EDT, 10/05/2026 (MT Newswires) -- Advanced Drainage Systems (WMS) agreed to acquire StormTrap Investments from PSP Capital for $530 million, or about $450 million net of expected tax benefits, the company said Monday. The acquisition is expected to be accretive to adjusted earnings per share in the first year and will expand its stormwater management portfolio into large-volume storage solutions, the company said. The transaction will be funded with cash on hand and existing credit line capacity and is expected to close in the fourth quarter of 2026, it added.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cybertruck orders far exceed pre-production capacity, Tesla (TSLA.US) to refund deposits to a large number of customers
Elon Musk stated that Tesla will refund the Cybertruck deposits to a significant number of customers.
Barrick Gold (B.US) Q3 Results Mixed: Benefiting from Gold Price Dividend While Facing Cost Pressures
Barrick Mining (B.US) will release its financial results for the third quarter of 2026 before the U.S. stock market opens on November 9.
Europe Becomes a Safe Haven Amid AI Turbulence! Citi Turns Bullish on European Stocks, Downgrades US Stocks: Low AI Exposure Seen as Key Advantage
Citigroup strategists have downgraded the rating of U.S. stocks and upgraded the rating of European stocks, following the recent market turbulence caused by upheaval in the artificial intelligence industry.
Rumor: Tesla (TSLA.US) and SpaceX (SPCX.US) plan Terafab monthly production of one million wafers, feasibility questioned
According to reports, Tesla (TSLA.US) and SpaceX (SPCX.US) plan to achieve a production capacity of 1 million semiconductor wafers per month at the proposed Terafab factory starting in 2032.
Crypto prices
More
