Advanced Drainage Systems Acquires Plastic Tubing Industries for USD 9.5m
Feb 08, 2017 (M&A Navigator via COMTEX) --
(C)2017 M2 COMMUNICATIONS http://www.m2.com
8 February 2017 - Hilliard, Ohio-based water management solutions company Advanced Drainage Systems, Inc. (ADS) (NYSE: WMS) has acquired the assets of Florida-based HDPE pipe manufacturers Plastic Tubing Industries (PTI) for USD 9.5 m, the company said.
The transaction is expected to be accretive to ADS' net income and adjusted EBITDA in the first full year.
ADS said the acquisition of PTI, which had sales of approximately USD 11m for the year ended December 31, 2016, is expected to increase its manufacturing footprint in Georgia and Texas, and add production capacity to its manufacturing facilities in Florida.
With the acquisition, ADS will increase its manufacturing footprint in Georgia and Texas, while adding production capacity to the existing ADS manufacturing facilities in Florida, to better serve growing demand in the region.
Advanced Drainage Systems, Inc. manufactures thermoplastic corrugated pipe, providing a comprehensive suite of water management products and drainage solutions for use in the construction and infrastructure marketplace. The company operates a global network of 63 manufacturing plants and 31 distribution centres.
Target: Plastic Tubing Industries
Buyer: Advanced Drainage Systems
Deal size in USD: 9.5m
Type: Corporate Acquisition
Buyer advisor: , ,