Canada Pension Plan Investment Board acquired a 4.4% stake in Advanced Drainage Systems, Inc. from Joseph A. Chlapaty for $350 million.
August 19, 2021
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Canada Pension Plan Investment Board acquired a 4.4% stake in Advanced Drainage Systems, Inc. (NYSE:WMS) from Joseph A. Chlapaty for $350 million on August 19, 2021. Canada Pension Plan Investment Board acquired 3.1 million shares of Advanced Drainage Systems from a trust controlled by Advanced Drainage Systems' Chairman Emeritus, Joseph A. Chlapaty. Kevin M. Schmidt of Debevoise & Plimpton LLP acted as legal advisor to Canada Pension Plan Investment Board. Matthew S. Bailey of Squire Patton Boggs (US) LLP and Harold Birnbaum of Davis Polk & Wardwell LLP acted as legal advisor to Advanced Drainage Systems.
Canada Pension Plan Investment Board completed the acquisition of a 4.4% stake in Advanced Drainage Systems, Inc. (NYSE:WMS) from Joseph A. Chlapaty on August 19, 2021.
Advanced Drainage Systems, Inc. is engaged in manufacturing water management solutions for the stormwater and onsite septic wastewater industries, which provides superior drainage solutions for use in the construction and agriculture marketplaces. The Company's segments include Pipe, International, Infiltrator and Allied Products & Other. Its Pipe segment manufactures and markets performance thermoplastic corrugated pipe throughout the United States. Its Infiltrator is engaged in providing plastic leach field chambers and systems, septic tanks and accessories, primarily for use in residential applications. International segment manufactures and markets products in regions outside of the United States, with owned facilities in Canada and those markets serviced through its joint ventures in Mexico and South America. The Companyâs Allied Products & Other segment offers adjacent technologies to its core Pipe offering, presenting a complete drainage solution for its clients and customers.
ADVANCED DRAINAGE SYSTEMS, INC. 
