<SEC-DOCUMENT>0000919574-23-005032.txt : 20230830
<SEC-HEADER>0000919574-23-005032.hdr.sgml : 20230830
<ACCEPTANCE-DATETIME>20230830093534
ACCESSION NUMBER:		0000919574-23-005032
CONFORMED SUBMISSION TYPE:	144
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230830
DATE AS OF CHANGE:		20230830

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADVANCED DRAINAGE SYSTEMS, INC.
		CENTRAL INDEX KEY:			0001604028
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS FOAM PRODUCTS [3086]
		IRS NUMBER:				510105665
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		144
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	001-36557
		FILM NUMBER:		231223845

	BUSINESS ADDRESS:	
		STREET 1:		4640 TRUEMAN BOULEVARD
		CITY:			HILLIARD
		STATE:			OH
		ZIP:			43026
		BUSINESS PHONE:		614-658-0050

	MAIL ADDRESS:	
		STREET 1:		4640 TRUEMAN BOULEVARD
		CITY:			HILLIARD
		STATE:			OH
		ZIP:			43026

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Stockbridge Partners LLC
		CENTRAL INDEX KEY:			0001505183
		IRS NUMBER:				208051585
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		144

	BUSINESS ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		STREET 2:		35TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		617 227-0050

	MAIL ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		STREET 2:		35TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Stockbridge Partners LLC (D/B/A Stockbridge Investors)
		DATE OF NAME CHANGE:	20120313

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Stockbridge Partners LLC
		DATE OF NAME CHANGE:	20101108
</SEC-HEADER>
<DOCUMENT>
<TYPE>144
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Stockbridge Partners LLC -->
          <cik>0001505183</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0001604028</issuerCik>
      <issuerName>ADVANCED DRAINAGE SYSTEMS, INC.</issuerName>
      <secFileNumber>001-36557</secFileNumber>
      <issuerAddress>
        <com:street1>4640 TRUEMAN BOULEVARD</com:street1>
        <com:city>HILLIARD</com:city>
        <com:stateOrCountry>OH</com:stateOrCountry>
        <com:zipCode>43026</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>614-658-0050</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Stockbridge Partners LLC</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>May be deemed affiliate</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Glenn Eagle Wealth, LLC</name>
        <address>
          <com:street1>324 Wall Street</com:street1>
          <com:city>Princeton</com:city>
          <com:stateOrCountry>NJ</com:stateOrCountry>
          <com:zipCode>08540</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>250000</noOfUnitsSold>
      <aggregateMarketValue>30962500.00</aggregateMarketValue>
      <noOfUnitsOutstanding>78692236</noOfUnitsOutstanding>
      <approxSaleDate>08/30/2023</approxSaleDate>
      <securitiesExchangeName>NYSE</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>01/12/2016</acquiredDate>
      <natureOfAcquisitionTransaction>Various open market purchases</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Various open market purchases</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>250000</amountOfSecuritiesAcquired>
      <paymentDate>01/12/2016</paymentDate>
      <natureOfPayment>Cash</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Stockbridge Partners LLC</name>
        <address>
          <com:street1>200 CLARENDON STREET</com:street1>
          <com:street2>35TH FLOOR</com:street2>
          <com:city>BOSTON</com:city>
          <com:stateOrCountry>MA</com:stateOrCountry>
          <com:zipCode>02116</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>08/23/2023</saleDate>
      <amountOfSecuritiesSold>150000</amountOfSecuritiesSold>
      <grossProceeds>18731970.00</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Stockbridge Partners LLC</name>
        <address>
          <com:street1>200 CLARENDON STREET</com:street1>
          <com:street2>35TH FLOOR</com:street2>
          <com:city>BOSTON</com:city>
          <com:stateOrCountry>MA</com:stateOrCountry>
          <com:zipCode>02116</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>08/24/2023</saleDate>
      <amountOfSecuritiesSold>28078</amountOfSecuritiesSold>
      <grossProceeds>3458311.10</grossProceeds>
    </securitiesSoldInPast3Months>
    <securitiesSoldInPast3Months>
      <sellerDetails>
        <name>Stockbridge Partners LLC</name>
        <address>
          <com:street1>200 CLARENDON STREET</com:street1>
          <com:street2>35TH FLOOR</com:street2>
          <com:city>BOSTON</com:city>
          <com:stateOrCountry>MA</com:stateOrCountry>
          <com:zipCode>02116</com:zipCode>
        </address>
      </sellerDetails>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <saleDate>08/25/2023</saleDate>
      <amountOfSecuritiesSold>50202</amountOfSecuritiesSold>
      <grossProceeds>6169584.83</grossProceeds>
    </securitiesSoldInPast3Months>
    <remarks>Stockbridge Partners LLC is deemed to be the beneficial owner of the Common Stock held through a separate managed account and through Stockbridge Fund, L.P. Regarding the "Securities To Be Sold" Table, the dates of acquisition and payment of the Common Stock varied, commencing on the date reported in the Table. Stockbridge Partners LLC is signing this form on behalf of the separate managed account and Stockbridge Fund, L.P.</remarks>
    <noticeSignature>
      <noticeDate>08/30/2023</noticeDate>
      <signature>STOCKBRIDGE PARTNERS LLC By: BPSP, L.P., its Managing Member, By: Berkshire Partners Holdings LLC, its General Partner, /s/ Kenneth S. Bring, its M.D.</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
