Advanced Drainage Systems, Inc. is the leading North American manufacturer of thermoplastic corrugated pipe and water management solutions for stormwater and onsite wastewater applications across residential, non-residential, infrastructure, and agricultural markets. The company operates two segments: Stormwater, which includes corrugated pipes, storm chambers, drainage structures, and water quality products, and Wastewater, which offers leachfield chambers, treatment systems, and dispersal products through its subsidiary Infiltrator Water Technologies. ADS generates revenue through product sales via a national distribution platform of manufacturing plants and distribution centers, serving approximately 16,000 customers including major distributors, waterworks suppliers, and national retailers, with a competitive advantage built on its broad product portfolio, technical expertise, supply chain efficiency, and integrated water lifecycle management approach.