{"success":true,"data":{"pressRelease":{"id":"168018","rtpr_id":"nBw3vTNLTa-20261013","ticker":"WMS","exchange":"NYSE","all_tickers":["WMS"],"title":"PSP Capital Announces Sale of StormTrap to Advanced Drainage Systems","author":"Business Wire","published_at":"2026-10-13T17:23:00.088Z","article_body":"PSP Capital Announces Sale of StormTrap to Advanced Drainage Systems\n\nPSP Capital, a global private investment firm founded by its Chairman, Penny\nPritzker, announced that it has entered into a definitive agreement to sell\nStormTrap, a leading provider of stormwater management systems and water\nquality solutions, to Advanced Drainage Systems, Inc. (NYSE: WMS) (\"ADS\"), a\nglobal leader in innovative water management solutions.\n\nThe transaction, which was announced by ADS, is expected to close in the\ncoming months, subject to customary regulatory approvals. The transaction\nvalues StormTrap at approximately $530 million.\n\nPSP Capital invested in StormTrap in March 2022, partnering with the company's\nmanagement team to accelerate growth, expand its product portfolio, strengthen\nits research and development capabilities, and further solidify its successful\nposition in the rapidly growing stormwater infrastructure market.\n\nDuring PSP Capital's ownership, StormTrap significantly expanded its\noperations and market reach. The company added more than 60 employees,\nconstructed a state-of-the-art research and testing facility, launched\nmultiple innovative water quality products, completed a strategic tuck-in\nacquisition, and more than doubled revenue and earnings. Today, StormTrap is\nrecognized as a leading provider of highly engineered stormwater detention,\ninfiltration, treatment, and water harvesting solutions serving\nmunicipalities, developers, engineers, and contractors across North America.\n\nStormTrap's growth was supported by powerful long-term trends, including\nincreased development density, aging infrastructure, stricter stormwater\nregulations, rising land values, and the growing need for resilient\ninfrastructure in the face of more frequent extreme weather events.\n\n\"We are so fortunate to have partnered with CEO Nate Olds and the outstanding\nStormTrap leadership team,” said Don Traubert, Managing Director with PSP\nCapital. “They have a deep passion for stormwater management that resonated\nfrom our first meeting. Over the past 5 years, StormTrap executed a thoughtful\nstrategic growth plan that has reinforced its position as an industry leader\nand innovator. We are excited to see the business continue its strong\ntrajectory under ADS' ownership.\"\n\nNate Olds, CEO of StormTrap, said, \"From our first interaction, the PSP\nCapital team demonstrated an understanding of our business and embraced our\nlong-term vision for growth. Together we invested in our people and\norganization, driving innovation and bolstering our leading market position.\nOur partnership with PSP Capital was highly collaborative and impactful, and\nwe are well-positioned for this next chapter.”\n\nThe transaction represents a successful outcome for StormTrap, its employees,\ncustomers, and stakeholders and reinforces PSP Capital's commitment to\npartnering with exceptional management teams to build market-leading\nbusinesses through long-term investment and strategic support.\n\nAbout StormTrap\n\nStormTrap is a leading provider of advanced stormwater management solutions\nacross North America. Committed to protecting waterways and promoting\nsustainable infrastructure, StormTrap delivers engineered systems for\ndetention, retention, infiltration, treatment, and water harvesting. Its\nproven, customizable solutions help civil engineers, developers, and\nmunicipalities meet stringent regulatory requirements while optimizing site\ndesign and reducing total project costs. StormTrap's product portfolio\nincludes SingleTrap®, DoubleTrap®, ShallowTrap®, StormSettler®,\nSiteSaver®, TrashTrap®, and PumpGuard®. For more information, visit\nwww.stormtrap.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.stormtrap.com&esheet=54621031&newsitemid=20261013521784&lan=en-US&anchor=www.stormtrap.com&index=1&md5=87b11f73013663740de449cfb50df288)\n.\n\nAbout PSP Capital and PSP Partners\n\nPSP Partners is a Chicago-based private investment firm founded by its\nChairman Penny Pritzker, an entrepreneur, civic leader, and philanthropist,\nand former U.S. Secretary of Commerce. The firm is comprised of a highly\nexperienced team of investment professionals and business builders focused on\npartnering with entrepreneurs, business owners, and management teams to build\nmarket-leading businesses and develop valuable assets. With investment\nstrategies focused on established businesses (PSP Capital), emerging/growth\ncompanies (PSP Growth) and real assets (Pritzker Realty Group), PSP Partners\ninvests across stages and asset classes with a primary emphasis on business\n& technology services, advanced industrials and real estate that are\nwell-aligned with its expertise and experience. For more information, visit:\nwww.psppartners.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.psppartners.com&esheet=54621031&newsitemid=20261013521784&lan=en-US&anchor=www.psppartners.com&index=2&md5=d93eed65676968ca01b9a24eb839bb04)\n.\n\nAbout Advanced Drainage Systems\n\nAdvanced Drainage Systems is a leading provider of innovative water management\nsolutions in the stormwater and onsite wastewater industries. Through its\nportfolio of products and services, ADS helps customers across commercial,\nresidential, infrastructure, and agricultural markets manage water more\neffectively while advancing environmental sustainability. For more\ninformation, visit www.adspipe.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.adspipe.com&esheet=54621031&newsitemid=20261013521784&lan=en-US&anchor=www.adspipe.com&index=3&md5=859383375287e29faa9649757a4822bf)\n.\n\nAdvisors\n\nRaymond James acted as lead financial advisor and William Blair as co-advisor\nand Mayer Brown LLP acted as legal advisor to StormTrap and PSP Capital.\nJefferies LLC acted as the exclusive financial advisor and Squire Patton Boggs\n(U.S.) LLP acted as legal advisor to ADS.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261013521784/en/\n(https://www.businesswire.com/news/home/20261013521784/en/)\n\nMedia Contact\nJim Hock\nPSP Capital\njhock@psppartners.com (mailto:jhock@psppartners.com) \nwww.psppartners.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.psppartners.com&esheet=54621031&newsitemid=20261013521784&lan=en-US&anchor=www.psppartners.com&index=4&md5=862d1db60d979a0ac498bfb988d035a2)\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw3vTNLTa-20261013","title":"PSP Capital Announces Sale of StormTrap to Advanced Drainage Systems","author":"Business Wire","ticker":"WMS","created":"2026-10-13T17:23:00.088Z","tickers":["WMS"],"exchange":"NYSE","article_body":"PSP Capital Announces Sale of StormTrap to Advanced Drainage Systems\n\nPSP Capital, a global private investment firm founded by its Chairman, Penny\nPritzker, announced that it has entered into a definitive agreement to sell\nStormTrap, a leading provider of stormwater management systems and water\nquality solutions, to Advanced Drainage Systems, Inc. (NYSE: WMS) (\"ADS\"), a\nglobal leader in innovative water management solutions.\n\nThe transaction, which was announced by ADS, is expected to close in the\ncoming months, subject to customary regulatory approvals. The transaction\nvalues StormTrap at approximately $530 million.\n\nPSP Capital invested in StormTrap in March 2022, partnering with the company's\nmanagement team to accelerate growth, expand its product portfolio, strengthen\nits research and development capabilities, and further solidify its successful\nposition in the rapidly growing stormwater infrastructure market.\n\nDuring PSP Capital's ownership, StormTrap significantly expanded its\noperations and market reach. The company added more than 60 employees,\nconstructed a state-of-the-art research and testing facility, launched\nmultiple innovative water quality products, completed a strategic tuck-in\nacquisition, and more than doubled revenue and earnings. Today, StormTrap is\nrecognized as a leading provider of highly engineered stormwater detention,\ninfiltration, treatment, and water harvesting solutions serving\nmunicipalities, developers, engineers, and contractors across North America.\n\nStormTrap's growth was supported by powerful long-term trends, including\nincreased development density, aging infrastructure, stricter stormwater\nregulations, rising land values, and the growing need for resilient\ninfrastructure in the face of more frequent extreme weather events.\n\n\"We are so fortunate to have partnered with CEO Nate Olds and the outstanding\nStormTrap leadership team,” said Don Traubert, Managing Director with PSP\nCapital. “They have a deep passion for stormwater management that resonated\nfrom our first meeting. Over the past 5 years, StormTrap executed a thoughtful\nstrategic growth plan that has reinforced its position as an industry leader\nand innovator. We are excited to see the business continue its strong\ntrajectory under ADS' ownership.\"\n\nNate Olds, CEO of StormTrap, said, \"From our first interaction, the PSP\nCapital team demonstrated an understanding of our business and embraced our\nlong-term vision for growth. Together we invested in our people and\norganization, driving innovation and bolstering our leading market position.\nOur partnership with PSP Capital was highly collaborative and impactful, and\nwe are well-positioned for this next chapter.”\n\nThe transaction represents a successful outcome for StormTrap, its employees,\ncustomers, and stakeholders and reinforces PSP Capital's commitment to\npartnering with exceptional management teams to build market-leading\nbusinesses through long-term investment and strategic support.\n\nAbout StormTrap\n\nStormTrap is a leading provider of advanced stormwater management solutions\nacross North America. Committed to protecting waterways and promoting\nsustainable infrastructure, StormTrap delivers engineered systems for\ndetention, retention, infiltration, treatment, and water harvesting. Its\nproven, customizable solutions help civil engineers, developers, and\nmunicipalities meet stringent regulatory requirements while optimizing site\ndesign and reducing total project costs. StormTrap's product portfolio\nincludes SingleTrap®, DoubleTrap®, ShallowTrap®, StormSettler®,\nSiteSaver®, TrashTrap®, and PumpGuard®. For more information, visit\nwww.stormtrap.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.stormtrap.com&esheet=54621031&newsitemid=20261013521784&lan=en-US&anchor=www.stormtrap.com&index=1&md5=87b11f73013663740de449cfb50df288)\n.\n\nAbout PSP Capital and PSP Partners\n\nPSP Partners is a Chicago-based private investment firm founded by its\nChairman Penny Pritzker, an entrepreneur, civic leader, and philanthropist,\nand former U.S. Secretary of Commerce. The firm is comprised of a highly\nexperienced team of investment professionals and business builders focused on\npartnering with entrepreneurs, business owners, and management teams to build\nmarket-leading businesses and develop valuable assets. With investment\nstrategies focused on established businesses (PSP Capital), emerging/growth\ncompanies (PSP Growth) and real assets (Pritzker Realty Group), PSP Partners\ninvests across stages and asset classes with a primary emphasis on business\n& technology services, advanced industrials and real estate that are\nwell-aligned with its expertise and experience. For more information, visit:\nwww.psppartners.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.psppartners.com&esheet=54621031&newsitemid=20261013521784&lan=en-US&anchor=www.psppartners.com&index=2&md5=d93eed65676968ca01b9a24eb839bb04)\n.\n\nAbout Advanced Drainage Systems\n\nAdvanced Drainage Systems is a leading provider of innovative water management\nsolutions in the stormwater and onsite wastewater industries. Through its\nportfolio of products and services, ADS helps customers across commercial,\nresidential, infrastructure, and agricultural markets manage water more\neffectively while advancing environmental sustainability. For more\ninformation, visit www.adspipe.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.adspipe.com&esheet=54621031&newsitemid=20261013521784&lan=en-US&anchor=www.adspipe.com&index=3&md5=859383375287e29faa9649757a4822bf)\n.\n\nAdvisors\n\nRaymond James acted as lead financial advisor and William Blair as co-advisor\nand Mayer Brown LLP acted as legal advisor to StormTrap and PSP Capital.\nJefferies LLC acted as the exclusive financial advisor and Squire Patton Boggs\n(U.S.) LLP acted as legal advisor to ADS.\n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261013521784/en/\n(https://www.businesswire.com/news/home/20261013521784/en/)\n\nMedia Contact\nJim Hock\nPSP Capital\njhock@psppartners.com (mailto:jhock@psppartners.com) \nwww.psppartners.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.psppartners.com&esheet=54621031&newsitemid=20261013521784&lan=en-US&anchor=www.psppartners.com&index=4&md5=862d1db60d979a0ac498bfb988d035a2)\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-13T17:23:00.130969995Z","server_sent_at_ms":1791912180130},"received_at":"2026-10-13T17:23:00.181Z","source_url":"https://www.businesswire.com/news/home/20261013521784/en/"},"analysis":{"id":"156299","press_release_id":"168018","analysis_json":{"industry":{"label":"Building Products","sector":"Industrials"},"redFlags":["deal subject to customary regulatory approvals","seller-side release; no disclosure of WMS purchase financing or accretion math"],"eventType":"m_and_a","narrative":"Advanced Drainage Systems (NYSE: WMS) signed a definitive agreement to acquire StormTrap, a provider of engineered stormwater management and water quality systems, at a valuation of approximately $530 million.\n\nUnder PSP Capital's ownership since March 2022, StormTrap more than doubled revenue and earnings, added 60-plus employees, and completed a tuck-in acquisition.\n\nThe deal expands WMS's water quality and stormwater detention portfolio and is expected to close in the coming months, pending customary regulatory approvals.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"WMS bolt-on: $530M StormTrap deal deepens the water quality platform ahead of closing."},"keyFigures":{"dealValueUsd":"$530 million"},"quotedText":"The transaction values StormTrap at approximately $530 million.","namedEntities":{"people":[{"name":"Penny Pritzker","role":"Chairman, PSP Capital / PSP Partners"},{"name":"Don Traubert","role":"Managing Director, PSP Capital"},{"name":"Nate Olds","role":"CEO, StormTrap"}],"products":["SingleTrap","DoubleTrap","ShallowTrap","StormSettler","SiteSaver","TrashTrap","PumpGuard"],"companies":[{"name":"Advanced Drainage Systems, Inc.","ticker":"WMS","relationship":"acquirer"},{"name":"PSP Capital","relationship":"seller"},{"name":"PSP Partners","relationship":"seller affiliate"},{"name":"StormTrap","relationship":"target"},{"name":"Raymond James","relationship":"financial advisor to seller"},{"name":"William Blair","relationship":"co-advisor to seller"},{"name":"Mayer Brown LLP","relationship":"legal advisor to seller"},{"name":"Jefferies LLC","relationship":"financial advisor to acquirer"},{"name":"Squire Patton Boggs (U.S.) LLP","relationship":"legal advisor to acquirer"}],"dollarAmounts":[{"amount":"$530 million","context":"transaction value of StormTrap acquisition"}]},"materialImpact":{"score":4,"reasoning":"Advanced Drainage Systems (WMS) is acquiring StormTrap at a ~$530 million valuation, a meaningful bolt-on expanding its stormwater and water quality portfolio. Deal is definitive but still subject to regulatory approvals; the release is seller-side, so buyer financing details are absent."},"tickerRelevance":{"others":[],"primary":"WMS"},"globalImportance":45,"audienceRelevance":35,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"m_and_a_$530M_bolt_on","sectorWeight":"industrials/infrastructure","releaseSource":"seller-side PR (PSP Capital), not issuer release"}},"event_type":"m_and_a","event_type_secondary":null,"sentiment":"bullish","material_impact_score":4,"narrative":"Advanced Drainage Systems (NYSE: WMS) signed a definitive agreement to acquire StormTrap, a provider of engineered stormwater management and water quality systems, at a valuation of approximately $530 million.\n\nUnder PSP Capital's ownership since March 2022, StormTrap more than doubled revenue and earnings, added 60-plus employees, and completed a tuck-in acquisition.\n\nThe deal expands WMS's water quality and stormwater detention portfolio and is expected to close in the coming months, pending customary regulatory approvals.","key_figures":{"dealValueUsd":"$530 million"},"named_entities":{"people":[{"name":"Penny Pritzker","role":"Chairman, PSP Capital / PSP Partners"},{"name":"Don Traubert","role":"Managing Director, PSP Capital"},{"name":"Nate Olds","role":"CEO, StormTrap"}],"products":["SingleTrap","DoubleTrap","ShallowTrap","StormSettler","SiteSaver","TrashTrap","PumpGuard"],"companies":[{"name":"Advanced Drainage Systems, Inc.","ticker":"WMS","relationship":"acquirer"},{"name":"PSP Capital","relationship":"seller"},{"name":"PSP Partners","relationship":"seller affiliate"},{"name":"StormTrap","relationship":"target"},{"name":"Raymond James","relationship":"financial advisor to seller"},{"name":"William Blair","relationship":"co-advisor to seller"},{"name":"Mayer Brown LLP","relationship":"legal advisor to seller"},{"name":"Jefferies LLC","relationship":"financial advisor to acquirer"},{"name":"Squire Patton Boggs (U.S.) LLP","relationship":"legal advisor to acquirer"}],"dollarAmounts":[{"amount":"$530 million","context":"transaction value of StormTrap acquisition"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-13T17:23:06.724Z","global_importance":45,"audience_relevance":35,"importance_components":{"tickerTier":"mid-cap","eventGravity":"m_and_a_$530M_bolt_on","sectorWeight":"industrials/infrastructure","releaseSource":"seller-side PR (PSP Capital), not issuer release"}},"durationMs":null,"modelName":"glm-5.3-flashx"}}