Hillard-OH-based water management solutions provider Advance Draining Systems (ADS) entered into an agreement to acquire the water management business of Norma Group SE, known as National Diversified Sales (NDS), in an all-cash transaction valued at approximately $1.0 billion.

The deal is valued at approximately $875 million when adjusted for the present value of the expected tax benefits.

According to the company in a Sept. 23 news release, adding NDS’ expertise in residential water management solutions, access boxes and irrigation to its product portfolio will further enhances ADS’ capabilities as a comprehensive provider of full-scale water management solutions. The transaction aligns with ADS’ core growth strategies and accelerates momentum within Allied Products by introducing new solutions to the product portfolio, broadening customer reach and enhancing distribution capabilities.

NDS generated $313 million in revenue over the trailing twelve months ended June 2025, with approximately 90% of sales in the U.S. The transaction value, net of estimated tax benefits, represents a multiple of ~10x NDS Adjusted EBITDA from trailing twelve months ended June 2025, inclusive of expected run-rate cost synergies.

“ADS continues to evolve from a pipe manufacturing company to an enterprise providing a wide range of stormwater and onsite wastewater solutions, with leading manufacturing, logistics and design services,” said Scott Barbour, CEO and President of ADS. “The acquisition of NDS marks another important milestone in ADS’ journey as it accelerates our strategy to diversify and increase the mix of highly profitable Allied and Infiltrator products that enhance resiliency, supports profitable growth, and allows ADS to pursue water management projects across a broader set of applications.”

The company outlined the following benefits of the acquisition:

• Adds complementary new offerings in “attractive” allied product segments, including water capture. It also offers supplementary distribution approaches, enhancing a broad set of solutions for residential, non-residential, turf and irrigation applications.
• Enhances go-to-market capabilities in both retail and distributor channels through improved relationships with retailers, turf and irrigation and waterworks distributors in existing customer segments; enhances multi-channel strategy with NDS’ established eCommerce platform and direct-to-consumer sales; and adds complementary manufacturing and distribution footprint across North America, with capacity for growth.
• Broadens the total addressable market by entering the $1.5B landscape irrigation segment with complementary product portfolio and segments; and increases exposure to the residential repair and remodel segment.
• Unlocks significant value creation potential with over $25 million in expected annual cost synergies to be realized within three years through cross-selling products, expanded market opportunties, operational efficiencies, margin improvement and enhanced customer value.