{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-26-413092","form_type":"8-K","ticker":"WMS","cik":"0001604028","company_name":"ADVANCED DRAINAGE SYSTEMS, INC.","filed_at":"2026-10-05T11:00:28+00:00","discovered_at":"2026-10-05T11:05:00.245993+00:00","generated_at":"2026-10-12T14:43:49.232320+00:00","sec_items":["1.01","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"ADS to acquire StormTrap for ~$530M ($450M net of tax benefits), accretive to adjusted EPS in year one","bullets":["Deal value ~$530M, or ~$450M adjusted for present value of expected tax benefits; funded with cash on hand and existing ADS credit facility.","StormTrap generated ~$165M revenue and ~$40M adjusted EBITDA for LTM ending July 2026; purchase multiple ~10x adjusted EBITDA net of tax benefits incl. run-rate synergies.","Expected to close Q4 calendar 2026; subject to customary conditions including antitrust approvals; boards of both companies unanimously approved.","ADS expects deal accretive to adjusted EPS in first year; adds large volume, space-constrained stormwater storage, boosting non-residential and infrastructure cross-selling.","StormTrap CEO Nate Olds praised ADS' national scale; ADS CEO Scott Barbour cited integration expertise. Jefferies advised ADS; Raymond James/William Blair advised sellers."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-26-413092","json":"https://secwatch.observer/filing/0001193125-26-413092.json","markdown":"https://secwatch.observer/filing/0001193125-26-413092.md","text":"https://secwatch.observer/filing/0001193125-26-413092.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526413092/0001193125-26-413092-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1604028/000119312526413092/d119803d8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T14:43:49.232320+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}