TORONTO, May 16, 2024
/CNW/ - GMS Inc. (NYSE: GMS), a leading North American
specialty building products distributor and parent company to
Canada GMS, Inc. ("GMS Canada"), today announced that it has
entered into an agreement to acquire Yvon Building Supply Inc.,
Yvon Insulation Corporation, Laminated Glass Technologies, Inc.,
and Right Fit Foam Insulation Ltd. (collectively "Yvon" or the
"Company"), expanding GMS Canada's services and product offerings
in Ontario, Canada.
"We are excited to sign this agreement to have Yvon join GMS
Canada and our group of strong, in-market branded companies," said
Paul Green, President of GMS Canada.
The Yvon team has served the Ontario building industry for more than a
decade and offers a complete package of primary light construction
materials. This acquisition is expected to increase our in-market
service capability, which should allow GMS Canada to more fully
support our growing customers in the rapidly expanding southern
Ontario market. Under Tom Scott's leadership, Yvon has built a team
and capability driven by core values that align well with those of
GMS."
Tom Scott, President of Yvon,
added, "our business was built on family values and a passion for
customer service. Our growth over the last 13 years has been
directly attributable to our dedicated staff and supportive
customer base. The Yvon team looks forward to joining the GMS
family of companies upon the close of this transaction. They not
only share our values and commitment to customers but bring a
tremendous growth opportunity going forward."
Since its start more than a decade ago, Yvon has been committed
to sourcing a wide range of quality products for its customers.
What started out as a garage operation has now expanded to multiple
locations across Ontario. Yvon offers a full selection of
drywall, insulation (including manufacturing and contractor
installation services), finishing compound, steel, ceilings, truss
core, security mesh, fasteners, FRP, wood flooring, plywood, paint,
construction tools and accessories.
After the transaction closes, President of the Yvon team,
Tom Scott, and his senior leadership
group are expected to continue with the business going forward,
operating under the Yvon brand name but integrating closely with
GMS's service brands in Canada.
About GMS:
Founded in 1971, GMS operates a network of
approximately 300 distribution centers with extensive product
offerings of Wallboard, Ceilings, Steel Framing and Complementary
Products. In addition, GMS operates approximately 100 tool
sales, rental, and service centers, providing a comprehensive
selection of building products and solutions for its residential
and commercial contractor customer base across the United States and Canada. The Company's unique operating model
combines the benefits of a national platform and strategy with a
local go-to-market focus, enabling GMS to generate significant
economies of scale while maintaining high levels of customer
service.
For more information about GMS, please visit www.gms.com.
Forward‐Looking Statements and
Information:
This press release includes "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. You can generally identify forward-looking
statements by our use of forward-looking terminology such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "might," "plan," "potential," "predict," "seek,"
or "should," or the negative thereof or other variations thereon or
comparable terminology. We have based these forward-looking
statements on our current expectations, assumptions, estimates and
projections. While we believe these expectations, assumptions,
estimates, and projections are reasonable, such forward-looking
statements are only predictions and involve known and unknown risks
and uncertainties, many of which are beyond our control.
Forward-looking statements involve risks and uncertainties,
including those factors described in the "Risk Factors" section in
our filings with the SEC. We undertake no obligation to update any
of the forward-looking statements made herein, whether as a result
of new information, future events, changes in expectation or
otherwise.
SOURCE GMS Canada