Advanced Drainage Systems completes $1.0B acquisition of Norma Group's water management business NDS

This filing

On February 2, 2026, Advanced Drainage Systems, Inc. (the “Company”) completed its previously announced acquisition of the outstanding capital stock of certain indirect subsidiaries of NORMA Group SE (“Norma Group”), a European company ( Societas Europaea ) incorporated under the laws of Germany, which comprise substantially all of Norma Group’s water management business known as National Diversified Sales (“NDS”), subject to the terms and conditions set forth in the Master Share Purchase Agreement dated September 23, 2025 (the “Purchase Agreement”) between the Company and Norma Group. The acquisition was an all cash transaction for consideration of approximately $1.0 billion, subject to certain purchase price adjustments.

Comparable filing

of Flushing (“ Flushing Common Stock ”) issued and outstanding immediately prior to the Effective Time, subject to certain exceptions, was converted into the right to receive 0.85 of a share (the “ Exchange Ratio ”) of common stock, par value $0.01 per share, of OceanFirst (“ OceanFirst Common Stock ” and such consideration, the “ Merger Consideration ”).

This filing

On February 2, 2026, Advanced Drainage Systems, Inc. (the “Company”) completed its previously announced acquisition of the outstanding capital stock of certain indirect subsidiaries of NORMA Group SE (“Norma Group”), a European company ( Societas Europaea ) incorporated under the laws of Germany, which comprise substantially all of Norma Group’s water management business known as National Diversified Sales (“NDS”), subject to the terms and conditions set forth in the Master Share Purchase Agreement dated September 23, 2025 (the “Purchase Agreement”) between the Company and Norma Group. The acquisition was an all cash transaction for consideration of approximately $1.0 billion, subject to certain purchase price adjustments.

Comparable filing

KUBRA became an indirect wholly owned subsidiary of the Company. Pursuant to the Purchase Agreement, the aggregate cash purchase price for the Acquisition was approximately $372 million, subject to customary post-closing adjustments. The closing cash consideration was funded with a combination of cash on hand and borrowings under the Credit Agreement described

This filing

On February 2, 2026, Advanced Drainage Systems, Inc. (the “Company”) completed its previously announced acquisition of the outstanding capital stock of certain indirect subsidiaries of NORMA Group SE (“Norma Group”), a European company ( Societas Europaea ) incorporated under the laws of Germany, which comprise substantially all of Norma Group’s water management business known as National Diversified Sales (“NDS”), subject to the terms and conditions set forth in the Master Share Purchase Agreement dated September 23, 2025 (the “Purchase Agreement”) between the Company and Norma Group. The acquisition was an all cash transaction for consideration of approximately $1.0 billion, subject to certain purchase price adjustments.

Comparable filing

On May 26, 2026, Ashford BC LP and Ashford TRS BC LLC (together “Seller”), indirect subsidiaries of Braemar Hotels & Resorts Inc. (the “Company”), completed the sale of the Park Hyatt Beaver Creek Resort & Spa located in Avon, Colorado (the “Hotel”) pursuant to an Agreement of Purchase and Sale, dated as of April 27, 2026, by and among Seller and Apres Owner, LLC, as purchaser, for $176 million in cash, subject to customary pro-rations and adjustments.

This filing

On February 2, 2026, Advanced Drainage Systems, Inc. (the “Company”) completed its previously announced acquisition of the outstanding capital stock of certain indirect subsidiaries of NORMA Group SE (“Norma Group”), a European company ( Societas Europaea ) incorporated under the laws of Germany, which comprise substantially all of Norma Group’s water management business known as National Diversified Sales (“NDS”), subject to the terms and conditions set forth in the Master Share Purchase Agreement dated September 23, 2025 (the “Purchase Agreement”) between the Company and Norma Group. The acquisition was an all cash transaction for consideration of approximately $1.0 billion, subject to certain purchase price adjustments.

Comparable filing

On May 7, 2026, as contemplated by the Business Combination Agreement and as described in the section titled “ The BCA Proposal ” beginning on pa ge 180 of the Proxy Statement/Prospectus, the Company, Enhanced and Merger Sub consummated the business combination contemplated by the Business Combination Agreement, whereby: • Merger Sub merged with and into Enhanced (the “First Merger”), with Enhanced surviving the merger as a wholly owned subsidiary of the Company;

This filing

On February 2, 2026, Advanced Drainage Systems, Inc. (the “Company”) completed its previously announced acquisition of the outstanding capital stock of certain indirect subsidiaries of NORMA Group SE (“Norma Group”), a European company ( Societas Europaea ) incorporated under the laws of Germany, which comprise substantially all of Norma Group’s water management business known as National Diversified Sales (“NDS”), subject to the terms and conditions set forth in the Master Share Purchase Agreement dated September 23, 2025 (the “Purchase Agreement”) between the Company and Norma Group. The acquisition was an all cash transaction for consideration of approximately $1.0 billion, subject to certain purchase price adjustments.

Comparable filing

Mr. Owens, Ms. Owens and JAO, the “Sellers”), and Jacob Owens in his capacity as representative of the Sellers. The aggregate consideration for the Acquisition consisted of (i) 1,296,456 shares of Class A Common Stock, par value $0.0001 per share, of the Company (“Class A Common Stock”) issued to the Sellers (the “Stock Consideration”) and (ii) a $42.3 million net

This filing

On February 2, 2026, Advanced Drainage Systems, Inc. (the “Company”) completed its previously announced acquisition of the outstanding capital stock of certain indirect subsidiaries of NORMA Group SE (“Norma Group”), a European company ( Societas Europaea ) incorporated under the laws of Germany, which comprise substantially all of Norma Group’s water management business known as National Diversified Sales (“NDS”), subject to the terms and conditions set forth in the Master Share Purchase Agreement dated September 23, 2025 (the “Purchase Agreement”) between the Company and Norma Group. The acquisition was an all cash transaction for consideration of approximately $1.0 billion, subject to certain purchase price adjustments.

Comparable filing

On May 5, 2026, pursuant to the Purchase Agreement, VSE acquired all of the capital stock of PAG HoldCo from the Seller for an up-front consideration equal to $2.025 billion

This filing

On February 2, 2026, Advanced Drainage Systems, Inc. (the “Company”) completed its previously announced acquisition of the outstanding capital stock of certain indirect subsidiaries of NORMA Group SE (“Norma Group”), a European company ( Societas Europaea ) incorporated under the laws of Germany, which comprise substantially all of Norma Group’s water management business known as National Diversified Sales (“NDS”), subject to the terms and conditions set forth in the Master Share Purchase Agreement dated September 23, 2025 (the “Purchase Agreement”) between the Company and Norma Group. The acquisition was an all cash transaction for consideration of approximately $1.0 billion, subject to certain purchase price adjustments.

Comparable filing

On May 7, 2026, following approval by the stockholders of both Devon and Coterra at special meetings held on May 4, 2026, the Merger and the other transactions contemplated by the Merger Agreement were consummated.

This filing

On February 2, 2026, Advanced Drainage Systems, Inc. (the “Company”) completed its previously announced acquisition of the outstanding capital stock of certain indirect subsidiaries of NORMA Group SE (“Norma Group”), a European company ( Societas Europaea ) incorporated under the laws of Germany, which comprise substantially all of Norma Group’s water management business known as National Diversified Sales (“NDS”), subject to the terms and conditions set forth in the Master Share Purchase Agreement dated September 23, 2025 (the “Purchase Agreement”) between the Company and Norma Group. The acquisition was an all cash transaction for consideration of approximately $1.0 billion, subject to certain purchase price adjustments.

Comparable filing

the Company purchased substantially all of the assets and certain specified liabilities of Seller for $14,000,000, subject to certain customary adjustments for working capital, transaction expenses, and cash, on the terms and subject to the conditions set forth in the Purchase Agreement (the “Transaction”). The Transaction closed simultaneously with the execution of the Purchase Agreement.