PSP Capital, a global private investment firm founded by its Chairman, Penny Pritzker, announced that it has entered into a definitive agreement to sell StormTrap, a leading provider of stormwater management systems and water quality solutions, to Advanced Drainage Systems, Inc. (NYSE:WMS) ("ADS"), a global leader in innovative water management solutions.

The transaction, which was announced by ADS, is expected to close in the coming months, subject to customary regulatory approvals. The transaction values StormTrap at approximately $530 million.

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