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PSP Capital Announces Sale of StormTrap to Advanced Drainage Systems

  • PSP Capital announced a definitive agreement to sell StormTrap to Advanced Drainage Systems (ADS) for approximately $530 million.
  • The transaction is expected to close in the coming months subject to customary regulatory approvals.
  • PSP Capital invested in StormTrap in March 2022 to accelerate growth, expand its product portfolio, & strengthen R&D capabilities.
  • During PSP Capital's ownership, StormTrap added over 60 employees, constructed a new research facility, launched innovative products, & more than doubled revenue & earnings.
  • StormTrap's growth was driven by trends such as increased development density, aging infrastructure, stricter regulations, & the need for resilient infrastructure against extreme weather.
  • Don Traubert of PSP Capital & StormTrap CEO Nate Olds praised their collaborative partnership & the company's strategic execution.
  • Advisors for the deal included Raymond James & William Blair for PSP Capital/StormTrap, & Jefferies LLC for ADS.