In this episode of the Titanium Economy Podcast, Scott Barbour, CEO of Advanced Drainage Systems, talks with Akshay Sethi, President & Head of Commercial Excellence at Ayna, about how ADS grew from a $2 billion to $10 billion market cap through operations, acquisitions, and capital allocation. Scott explains how ADS manages stormwater and septic systems while recycling 500 million pounds of plastic annually, and how acquisitions like Infiltrator and NDS expanded their water management capabilities. The conversation covers focus, operational discipline, engineering innovation, and what it takes to attract talent to industrial businesses.

• Introduction & The ADS Industrial Story Scott Barbour is introduced as the CEO who grew ADS from a $2 billion to $10 billion market cap. He contextualizes ADS within the American industrial story, emphasizing the company's role in managing one of the world's most critical resources: water.

• The Three Value Creation Levers Behind 6x Market Cap Growth Barbour outlines the triad of strategic pricing, manufacturing and logistics transformation, and disciplined acquisitions that drove shareholder value creation. The Emerson-instilled philosophy of growing sales, profits, and cash in sequence is identified as the foundational financial framework.

• Material Conversion Strategy & the Infiltrator/NDS Acquisitions The long-runway opportunity in converting infrastructure from concrete and clay to high-performance plastics is examined alongside the Infiltrator and NDS acquisitions. Barbour explains how each expanded market participation, neutralized competitive threats, and diversified ADS's profit profile toward higher-margin products.

• Sustainability, Recycling, and the $65M Engineering & Technology Center Recycling 500 million pounds of plastic annually is framed as an operational and economic advantage, not a marketing construct. The $65 million engineering and technology center consolidates previously fragmented R&D, enabling disciplined development in material science, tooling, and water quality.

• Leadership Lessons, Industrial Focus, and the Talent Imperative Drawing on 27 years at Emerson, Barbour identifies capital allocation, operational focus, and avoiding strategic drift as the disciplines most critical to industrial leadership. He names attracting engineering and manufacturing talent — not capital — as the defining challenge for American industry.