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Acquisition of D.L. Building Materials, Inc. Expands Canadian Presence to Ottawa-Gatineau Market
New Greenfield Locations Provide Entrance to Atlantic City, NJ, Waco, TX, and Memphis, TN
GMS Inc. (NYSE: GMS), a leading North American specialty distributor of interior building products, announced the acquisition of D.L. Building Materials, Inc. as well as the establishment of five greenfield locations.
"We are pleased to welcome the team from D.L. Building Materials, Inc. to the GMS family," said John C. Turner, Jr., President and Chief Executive Officer. "This acquisition, along with the establishment of five new locations, represents continued execution of our growth strategy through platform expansion, enabling us to extend our geographic presence to four new and strategically important markets."
D. L. Building Materials, Inc. ("D.L.")
Founded in 1988, D.L. is a leading supplier of wallboard, acoustical ceilings, steel framing, insulation and related building products serving the Eastern Ontario and Western Quebec markets through two locations in Gatineau, QC and Kingston, ON. With the addition of D.L., GMS expands its Canadian presence to the greater Ottawa-Gatineau, ON-QC market, the sixth largest metropolitan area in Canada and the Canadian federal capitol city. The acquisition also marks GMS’s first location in Quebec as it continues to execute on strategic expansion goals in Canada.
Founder Richard Davis, General Manager Shana Davis and the entire D.L. team will continue to lead the business going forward. The acquired locations will continue to operate under the D.L brand and will partner with seven legacy Watson Building Supplies locations operating across Southern Ontario.
Greenfield Location Openings
GMS also recently established five new locations, expanding its presence to three additional markets, Atlantic City, NJ, Waco, TX, and Memphis, TN. In Atlantic City, NJ, GMS will add a twentieth location to the Capitol Building Supply, Inc. platform, expanding its service from legacy locations in the lower Delaware Valley into Southern New Jersey. The Waco, TX location, a key strategic link along the I-35 corridor, will join GMS subsidiary Cowtown Materials, Inc. marking the twenty-first location for GMS in Texas. Three locations in Memphis, TN, Jackson, TN, and Jonesboro, AR provide meaningful entrance to Greater Memphis, TN, a top 50 metropolitan statistical area.
Celebrating the 50th anniversary of its founding in 1971, GMS operates a network of more than 260 distribution centers across the United States and Canada. GMS’s extensive product offering of wallboard, suspended ceilings systems, or ceilings, and complementary construction products is designed to provide a comprehensive one-stop-shop for our core customer, the interior contractor who installs these products in commercial and residential buildings.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210203005118/en/
Leslie H. Kratcoski
Vice President, Investor Relations