---
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"
generated_at: "2026-10-12T14:43:49.232320+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# ADS to acquire StormTrap for ~$530M ($450M net of tax benefits), accretive to adjusted EPS in year one

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-413092
- JSON: https://secwatch.observer/filing/0001193125-26-413092.json
- Plain text: https://secwatch.observer/filing/0001193125-26-413092.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.