Advanced Drainage Systems Completes Hancor Acquisition

Hilliard, OH — With the expiration of all applicable waiting periods under the Hart-Scott-Rodino Act, Advanced Drainage Systems, Inc. has completed the previously announced acquisition of Findlay, Ohio based Hancor, Inc.

"Today's announcement is about the confluence of two strong companies that will now become one great company," said Joe Chlapaty, ADS President and Chief Executive Officer. "The result will be a vigorous competitor in the supply of storm water management systems that will allow us to provide comprehensive product and service solutions for design engineers, public works officials and underground utility contractors."

"An investment of this scale clearly demonstrates ADS' ongoing commitment to promoting the approval and acceptance of HDPE pipe in building and repairing the country's storm sewer infrastructure," Chlapaty continued. "We believe the completion of our transaction will provide significant benefits to our customers in the marketplace."

The new organization will now have 43 domestic and international manufacturing facilities producing pipe and fittings in 2-inch though 60-inch diameters, along with other engineered surface and sub-surface drainage structures.

"We will have an unmatched breadth of product line and field sales/engineering experience to support the industry in meeting the challenges of future growth and infrastructure repair," said Chlapaty. "Now with the size and scale to enhance our manufacturing, marketing and distribution efficiencies, we will be in a stronger position to compete with manufacturers of concrete, steel and PVC pipe."

The two companies are developing integration plans that build on the cultural similarities and the best business and product development practices from each company. Chlapaty stated that "successful integration of the two companies will be critical in our success going forward. Our philosophy is one dedicated to build and acquire the necessary technologies to provide the best products and services to our customers worldwide. Now that the acquisition is complete, we can hit the ground running with the finest talent and expertise in the stormwater management industry."

SOURCE: Advanced Drainage Systems, Inc.