You are here

HighBank serves as exclusive financial advisor to BaySaver Technologies, Inc. on the partial sale of its equity interest in BaySaver, LLC to joint venture partner Advanced Drainage Systems, Inc.

July 30, 2015

HighBank Advisors (“HighBank”), a Baltimore, Maryland based mid-market investment bank, announces that it was the exclusive financial advisor to BaySaver Technologies, Inc. (“BTI”) on the sale of 10% of its equity interest in BaySaver, LLC (“BaySaver”) to joint venture partner Advanced Drainage Systems, Inc. (“ADS”). BaySaver manufactures stormwater treatment units used in construction applications to remove sediments and other pollutants from stormwater runoff. BaySaver will continue to be based in Mount Airy, Maryland.

BaySaver was formed as a joint venture between BTI and ADS in July 2013 as a strategic partnership to maximize the strengths of both companies, coupling the strong research, development and technical approvals of BTI, with the industry-leading engineering, sales and distribution of ADS. Through this transaction, ADS increases its interest in the joint venture to 65%, allowing for ADS to assume operating control of Baysaver.

“We are very excited about advancing this partnership and the future prospects of the BaySaver product line,” said Joe Chlapaty, Chairman and Chief Executive Officer of ADS. “We believe there are strong growth opportunities, both in the near and long-term in this growing application. Evolving requirements related to stormwater 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.”

Tom Pank, Chief Executive Officer of BTI, commented, “I am excited about this next stage of the BTI and ADS joint venture that was established two years ago and have continued confidence in the growth strategy for Baysaver. Through the evolution of this partnership, I have had the pleasure of working with the HighBank team. On each occasion, they have provided senior-level attention to every aspect of the transaction process. In addition, Stephen Gaines has been an invaluable member of the BaySaver board since the joint venture’s formation.”

Stephen Gaines, Managing Director at HighBank, stated, “Our relationship with BTI goes back many years and we are excited to have worked on this transaction with Tom and the ADS team. We expect the joint venture to continue to extend its industry-leading position by leveraging BaySaver’s product development and distribution capabilities.”

About BaySaver, LLC

BaySaver is one of the world’s leading providers of stormwater treatment solutions, offering system design, technical advice, education, and products that separate and filter pollution from stormwater. BaySeparator™ and BayFilter™ are flagship products providing the best value per treated CFS in the industry. BaySaver is committed to providing highly efficient technology – with cost-effective long term maintainability. For more information visit www.baysaver.com.

About Advanced Drainage Systems, Inc.

Advanced Drainage Systems (ADS) is the leading manufacturer of high performance thermoplastic corrugated pipe, providing a comprehensive suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace. Its innovative products are used across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure applications. ADS has established a leading position in many of these end markets by leveraging its national sales and distribution platform, its overall product breadth and scale and its manufacturing excellence. Founded in 1966, ADS operates a global network of 61 manufacturing plants and 29 distribution centers. For more information visit www.ads-pipe.com.

About HighBank Advisors LLC

HighBank is a full service mid-market investment bank and financial advisory firm. Headquartered in Baltimore, Maryland with regional offices in Philadelphia, Pennsylvania and Raleigh, North Carolina, the firm provides advice on mergers and acquisitions, raising capital, exit and transaction planning, business valuations, fairness and solvency opinions, loan workouts and debt restructurings, and distressed asset sales. HighBank was formed on a mission that our clients and our people deserve to have their highest expectations met and to receive higher value for their investments of money and time.  For more information visit www.highbank.com.

All investment banking services are provided by HighBank Securities LLC (“HBS”), a registered broker-dealer and member of FINRA www.finra.org and SIPC www.sipc.org. HBS is a wholly-owned subsidiary of HighBank Advisors.