Advanced Drainage Systems Inc. will acquire National Diversified Sales, a subsidiary of Germany’s Norma Group SE, in a $1 billion all-cash transaction that expands ADS’ footprint across wholesale and retail distribution networks in North America. The deal, approved by both companies’ boards, is expected to close in early 2026 pending regulatory approval.
NDS, which generated $313 million in revenue in the 12 months ended June 2025, sells drainage, irrigation, and access box solutions primarily through irrigation and landscape distributors, hardware chains, and home improvement retailers. It also operates a growing e-commerce platform with direct-to-contractor and homeowner sales.
ADS, by contrast, has focused on stormwater and onsite wastewater infrastructure, supplying waterworks distributors, contractors, and municipalities through a broad manufacturing and logistics network. The combination gives ADS access to new channels while deepening its position in existing markets.
“This transaction strengthens our ability to serve distributors and contractors with a broader set of solutions,” said Scott Barbour, ADS’ chief executive officer. “NDS’ brand and strong relationships in turf, irrigation, and retail distribution complement our presence in waterworks and municipal markets, creating a stronger, multi-channel offering.”
ADS expects more than $25 million in annual cost synergies within three years, driven by integration efficiencies and cross-selling opportunities. The company said the acquisition will be accretive to adjusted earnings in its first year.
The purchase will be funded with cash on hand and existing credit facilities.
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