ADS to Acquire StormTech
Effective Nov. 23, Advanced Drainage Systems, Inc. (ADS), has agreed to acquire the remaining 50 percent interest in StormTech LLC.
StormTech was created as a 50/50 joint venture between ADS and Infiltrator® Systems Inc. to engineer and manufacture chambers for use in underground stormwater retention/detention systems.
"This significant investment in a proven, patented technology is part of our ongoing mission and commitment to growth in the storm water management industry,” said Joseph Chlapaty, chair and chief executive officer of Ohio-based ADS. “The StormTech chamber line is a classic example of groundbreaking technology, and one in which we see tremendous growth opportunity, both domestically and internationally. As the industry leader, this was a logical next step to help us meet our strategic growth objectives. No other company offers the vast array of stormwater management products coupled with the engineering and sales support to back them up.”
According to ADS, StormTech is currently the only manufacturer to produce chambers in adherence with nationally recognized ASTM standards.