ADVANCED DRAINAGE SYSTEMS, INC. 8-K

What Happened

• Advanced Drainage Systems, Inc. (WMS) filed an 8-K on February 2, 2026 announcing it completed its previously announced acquisition of the outstanding stock of certain indirect subsidiaries of Norma Group SE that comprise substantially all of Norma’s water management business, National Diversified Sales (NDS).
• The purchase was an all-cash transaction for approximately $1.0 billion, subject to customary purchase price adjustments, under a Master Share Purchase Agreement dated September 23, 2025.

Key Details

• Transaction: Acquisition of Norma Group’s NDS water management business (indirect subsidiaries of Norma Group SE).
• Consideration: Approximately $1.0 billion in cash, subject to certain purchase price adjustments.
• Agreements: Transaction governed by the Master Share Purchase Agreement dated Sept. 23, 2025 (description previously filed as Exhibit 2.1 to the company’s Sept. 23, 2025 Form 8-K).
• Disclosure: The company furnished a press release (Exhibit 99.1) under Regulation FD; that disclosure is furnished, not “filed,” and not subject to Section 18 liability or incorporation by reference.

Why It Matters

• This is a material acquisition that expands Advanced Drainage Systems’ water management business by adding the NDS operations.
• The ~$1.0B cash purchase will affect the company’s capital allocation and will be reflected in future financial statements and SEC filings (including any purchase price adjustments and integration results) that investors should monitor.