ADS buys maker of high-capacity drains
<p>A new addition to the Advanced Drainage Systems family of products.</p>
Advanced Drainage Systems has acquired Duraslot a manufacturer of storm water collection surface drains used in a variety of construction applications. Terms of the transaction were not disclosed.
This transaction, according to ADS, is consistent with the company's strategy of making synergistic tuck-in acquisitions to leverage the existing footprint and sales network as well as to supplement organic growth.
“We are excited to welcome the Duraslot product into the ADS family of Allied Products,” said Joe Chlapaty, chairman and CEO. “Duraslot is a proven product technology that ADS knows well having used it on certain applications over the years. We feel Duraslot broadens our solutions offering and growth opportunities, and we will look to leverage our nationwide sales, engineering, manufacturing and customer network to further increase its market presence.”
ADS is a global manufacturer of water management products and solutions for commercial, residential, infrastructure and agricultural applications. Founded in 1966, the company operates a global network of approximately 60 manufacturing plants and 30 distribution centers.
