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Advanced Drainage Systems to acquire StormTrap. ADS subsidiary expanding its manufacturing with new Davenport facility By: Jennifer DeWitt | October 6, 2026 Advanced Drainage Systems, Inc., (ADS) a leading provider of innovative water management solutions in the stormwater and wastewater industries, has announced plans to acquire StormTrap Investments LLC from PSP Capital. In a news release made available on Monday, Oct. 5, the Hilliard, Ohio-based ADS said it will purchase StormTrap from PSP Partners (via PSP Capital) for approximately $530 million, or $450 million adjusted for the expected tax benefits value. PSP Partners is a Chicago-based private investment firm founded by its Chairman Penny Pritzker, an entrepreneur, civic leader, and philanthropist, and former U.S. Secretary of Commerce. Its investment strategies focus on established businesses (PSP Capital), emerging/growth companies (PSP Growth) and real assets (Pritzker Realty Group) with a primary emphasis on business and technology services, advanced industrials and real estate. StormTrap is based in Romeoville, Illinois. The acquisition news from ADS comes on the heels of its subsidiary Infiltrator Water Technologies' announcement in September to open a new plant in west Davenport. ADS, along with NDS and Infiltrator Water Technologies, provides superior stormwater drainage and onsite wastewater products used across commercial, residential, infrastructure, and agricultural applications. The new Quad Cities operation for Infiltrator Water Technologies will mean a $7.4 million investment in an existing industrial building it will lease at 1804 Stark St., Davenport. New Quad Cities footprint. The Infiltrator project will create up to 26 full-time jobs. That facility will be dedicated to production of the company's line of EZflow products, which offer a green building alternative to traditional septic drainfield and drainage systems. The subsidiary's investment also comes amid a renewed focus on new economic development efforts across the city's west end. The City of Davenport's Community and Economic Development (CED) team and others are working to improve the business district, including major investment in the area's roads and infrastructure. The west end sports a mix of housing, legacy industry companies, as well as new and longtime commercial and retail developments. In August, the CED team discussed how $650,000 in federal Community Development Block Grant (CDBG) funding is being devoted to help businesses advance projects that improve the Rockingham Road corridor. The funding builds on the city's Commercial DREAM program, which is similar to Davenport's successful residential DREAM program. The federal funds expand on the $500,000 previously approved by city council for general redevelopment, economic development leaders told the QCBJ in the interview. "There's never been a better time to be on Rockingham (Road)," Susanne Knutsen said. "If you're going to do something or if you want to do something (in the near future) on Rockingham, now's the time." Commercial DREAM funds are limited to facade improvements or exterior repairs visible from the street and reserved for new and existing businesses along the corridor, she said. To date, the city has not awarded any Commercial DREAM funds. But Infiltrator Water Technologies' facility does not qualify because the site is not within the target area, Ms. Knutsen told the QCBJ this week. The building owner could be eligible for an Urban Revitalization Tax Exemption from the City of Davenport. ADS, StormTrap alignment. The pending ADS transaction with StormTrap will support ADS' core growth strategy of expanding its product portfolio into high-demand, high-growth categories, enhancing market opportunities, and expanding its product offerings in the stormwater management landscape industry, the copmany release said. StormTrap is an industry leader in large volume, space-constrained, highly engineered stormwater solutions. "This acquisition adds highly complementary stormwater storage products and solutions to ADS' comprehensive portfolio, increasing exposure to a growing segment of the market," said Scott Barbour, ADS' chief executive officer and president. "The addition of StormTrap will also create opportunities to further improve execution on selling all of ADS' complementary portfolio of products and solutions." He described StormTrap's reputation and innovative solutions approach as a natural fit with ADS' stormwater management leading position. "Our disciplined capital allocation framework and strong balance sheet provide us the flexibility to act decisively when the right opportunity like StormTrap emerges," Mr. Barbour said. ADS, StormTrap combination. Founded in 1966, ADS' water management solutions are designed to last for decades. Also one of the largest plastic recycling companies in North America, ADS keeps millions of pounds of plastic out of landfills each year. Additionally, StormTrap delivers engineered systems for detention, retention, infiltration, treatment, and water harvesting that provide solutions to help civil engineers, developers, and municipalities meet stringent regulatory requirements, optimize site design and reduce total project costs. Touting the two companies' alignment on values and best-in-class solutions, StormTrap CEO Nate Olds added "StormTrap was built to solve challenging stormwater storage applications, and with ADS' sales platform, history of successful integrations, and national scale, we are confident we can bring those solutions to a far broader set of customers. We look forward to building on both companies' strengths as we work together to protect communities and the environment for generations to come." Among the acquisition transaction's other growth opportunities for ADS are: * Benefits from federal, state, and local stormwater regulations expected to continue to drive demand for StormTrap's complementary products. * Expands StormTrap's geographic reach through targeted commercial investments and access to ADS' nationwide footprint. Both companies' boards have unanimously approved the deal, which is subject to customary closing conditions, including regulatory approvals. The transaction is expected to close in the fourth quarter. Jefferies LLC acted as the exclusive financial advisor and Squire Patton Boggs (U.S.) LLP acted as legal advisor to ADS. Raymond James acted as lead financial advisor and William Blair as co-advisor and Mayer Brown LLP acted as legal advisor to StormTrap and PSP Capital.

Infiltrator Water Technologies Infiltrator Guardian. Infiltrator Water Technologies is excited to announce the launch of the Infiltrator Guardian, a safety gate that prevents unauthorized entry into septic tanks. The Infiltrator Guardian aims to reset the industry's septic tank safety through superior performance and broad availability. The Guardian is designed to be installed in a tank riser system and never fully removed. When the Guardian's safety gate is lifted it creates full access to the tank opening granting maintenance providers and waste haulers plenty of space to navigate their equipment. When closed, the gate is secured with a stainless-steel screw and a spring-loaded safety latch requiring 50 pounds of force to open. These features will prevent unauthorized entry enhancing job site safety. Infiltrator Water Technologies