Advanced Drainage Systems acquired Cultec, Inc. for $48.0 million (fair value of consideration transferred, after a working-capital adjustment), a transaction completed in April 2022, structured as all cash.
Cultec, Inc. operates in Allied Products & Other (stormwater and septic chambers), is based in United States (family-owned; Connecticut-based). ADS completed its acquisition of Cultec, Inc., a family-owned technology leader in the stormwater and onsite septic wastewater industries. Cultec's injection-molded and thermoformed chambers are used for stormwater retention, detention and "first flush" underground storage, complementing ADS's existing StormTech chamber line. The deal added about 31 employees.
Expands ADS's portfolio of innovative water-management solutions across the stormwater and onsite septic wastewater industries.
Allied Products & Other The purchase price was later increased by $0.5 million to $48.0 million to reflect a measurement-period adjustment; goodwill of $11.1 million was recorded.
Advisory firms were not disclosed for this transaction.