Advanced Drainage Systems, Inc. (WMS), a plastic pipes and other products maker, said on Tuesday that it has inked a deal to acquire National Diversified Sales, a water management business of Norma Group SE (NOEJ.DE), for around $1 billion in cash, or approximately $875 million after tax benefits.
Advanced Drainage will fund the transaction by cash on hand and debt. The acquisition, to be closed in the first quarter of 2026, is expected to add to the buyer's earnings starting in the first full year.
Scott Barbour, CEO of Advanced Drainage, said: "The acquisition of NDS marks another important milestone in ADS' journey as it accelerates our strategy to diversify and increase the mix of highly profitable Allied and Infiltrator products that enhance resiliency, supports profitable growth, and allows ADS to pursue water management projects across a broader set of applications."
For the 12-month period to June, National Diversified Sales posted revenue of $313 million, with approximately 90% of sales in the U.S.
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