PE-backed Advanced Drainage Systems acquires Ideal Pipe of Canada
Advanced Drainage Systems Inc (NYSE: WMS), a portfolio company of U.S. private equity firm American Securities, has purchased Ideal Pipe of Canada for about $56.8 million. Based in Thorndale, Ontario, Ideal Pipe is a manufacturer of high-density polyethylene pipe and related accessories. Advanced Drainage, a maker of high-performance thermoplastic corrugated pipe, said the deal increases its size and scale in the Canadian market and enhances its manufacturing, marketing and distribution capabilities. American Securities acquired its ownership interest in the Hilliard, Ohio-based company from U.S. private equity firm Berkshire Partners in 2010.
2 February 2015•5 mins read
