Advanced Drainage Systems acquires Plastic Tubing Industries
February 9, 2017 By Drainage Contractor
Advanced Drainage Systems, Inc. (ADS), a leading global manufacturer of water management products and solutions for commercial, residential, infrastructure and agricultural applications, announced it has acquired the assets of Plastic Tubing Industries (PTI), a manufacturer of HDPE pipe and related accessories, for $9.5 million.
“We are very excited to announce the acquisition of the PTI assets, which further increases our customer base and capacity in the growing Southeast region of the United States,” said Joe Chlapaty, Chairman and Chief Executive Officer. “PTI is a highly complementary business, carries a strong brand and has exceptional customer loyalty dating back more than 40 years.”
With the acquisition, ADS will increase its manufacturing footprint in Georgia and Texas, while adding production capacity to the existing ADS manufacturing facilities in Florida, to better serve growing demand in the region. PTI had sales of approximately $11 million for the year ending December 31, 2016.
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