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TUCKER, Ga., July 02, 2021--(BUSINESS WIRE)--GMS Inc. (NYSE: GMS), a leading North American specialty distributor of interior building products, today announced the successful completion of its previously announced acquisition of Westside Building Material ("Westside"), one of the nation’s largest independent distributors of interior building products.
"Building on the momentum of our very solid fourth quarter 2021 earnings report, we are pleased to announce the successful completion of this transaction and welcome the Westside team to GMS," said John C. Turner Jr., President and Chief Executive Officer of GMS. "Westside significantly increases our reach in several major California markets and represents our first foray into the Las Vegas market. Expanding our geographic platform through accretive acquisitions, such as this one, continues to be a vital component of our strategic growth priorities."
GMS funded the $135.0 million purchase price proceeds with cash on hand and available borrowings on its revolving credit facility.
Celebrating the 50th anniversary of its founding in 1971, GMS operates a network of more than 275 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.
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Vice President, Investor Relations