- Advanced Drainage Systems, Inc. (NYSE:WMS) has acquired Cultec, Inc., a family-owned plastic stormwater and septic chamber company headquartered in Brookfield, Connecticut. Deal terms were not disclosed.
- “Today, Cultec designs and sells plastic chambers and related products into the stormwater and on-site septic markets. Their products expand ADS’ portfolio of solutions, enabling us to meet the growing and evolving needs of our customers,” commented CEO Scott Barbour.
- Advanced Drainage Systems had $22.1 million cash in hand as of December 31, 2021.
- Price Action: WMS shares are trading lower by 0.90% at $101.54 on the last check Monday.
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