Advanced Drainage Systems Inc. acquired operational control of BaySaver LLC from its joint venture partner, BaySaver Technologies Inc., on July 17 after paying $3.2 million for an additional 10 percent interest in the manufacturer of storm water treatment products.
Hilliard, Ohio-based ADS now has 65 percent interest in the JV, which formed in July 2013 to combine the manufacturing, sales and distribution strengths of ADS with the research, development and technical approvals of BTI, which is based in Mount Airy, Md.
BaySaver products remove sediments and pollutants from storm water runoff and are sold under the BaySeparator and BayFilter brands. In the 12 months that ended March 31, BaySaver took in about $11 million in sales, according to a news release.
ADS Chairman and CEO Joe Chlapaty is optimistic about future prospects, he said in the release.
“Evolving requirements related to storm water management have created the demand for a more complete treatment methodology and this strategic partnership has strengthened our position as the only complete solutions provider for water management systems,” Chlapaty said.
ADS consolidated BaySaver into its financial reporting as of July 17.