CPP Investments Raises Stake In Advanced Drainage Systems To 4.6%

Canada Pension Plan Investment Board (CPP Investments) has invested $350 million in Advanced Drainage Systems Inc WMS through purchasing shares in a secondary transaction.
This transaction increases CPP investments' total ownership stake in the company to 4.6%.
"ADS represents the opportunity to invest in a high-quality operator that is a leader in its field. The company's strong competitive positioning and runway for growth make it a good fit for our investment strategy," said Michael Koen, Managing Director, Head of Relationship Investments, CPP Investments.
Price Action: WMS shares closed lower by 2.32% at $111.05 on Thursday.