TUCKER, Ga.--(BUSINESS WIRE)--
GMS Inc. (NYSE:GMS), a leading North American distributor of gypsum wallboard and suspended ceiling systems, today announced the acquisition of two distribution businesses: the GSD distribution operations of Grabber Construction Products, Inc. (“Grabber Concord”) in Concord, CA and the GSD assets of CMH Distributing, Inc. (“CMH”) in Kearney, NE.
The acquisition of the Grabber Concord operations represents GMS’ entry into the San Francisco Bay Area and provides a key foothold to begin servicing one of the largest metro areas in the U.S. The acquisition pairs the operations of Grabber Concord, which has serviced customers in the Bay Area for over 30 years, with the operational expertise, service and scale of GMS subsidiary J&B Materials, Inc. (“J&B”). The Concord location will represent the seventh location for J&B including those currently in Southern California and Hawaii.
Don Taylor, Vice President of the Western Division of GMS, commented, “We look forward to the opportunity to enhance our service of customers in the Bay Area. GMS' proven operating model and focus on customer service, combined with the outstanding reputation and long-term customer relationships of Grabber’s Concord team, will create value for our customers, employees and investors.”
Roland Snyder, Chief Executive Officer of Grabber, stated, “Bringing our California GSD team into the GMS family is the right move for Grabber. Our two companies share a level of dedication and drive that makes us natural partners. With GMS’ expert guidance, Grabber’s reputation in the Bay Area will continue to thrive and grow.”
In Nebraska, the GSD assets of CMH Distributing, Inc. are being acquired by Cherokee Building Materials and will join GMS’ Drywall Supply, Inc. (“DSI”) brand in Nebraska. It will be the third location in the state for DSI, which has longstanding operations in Lincoln and Omaha that serve commercial and residential customers throughout Nebraska.
The acquisition of the Kearney-based distribution operation will bring DSI’s products and services to a growing customer base in Central and Western Nebraska.
Cory Halliwell, owner of CMH Distributing, commented, “I am truly excited to transition our GSD distribution operations to the GMS family. For over 15 years we have built a reputation based on commitment to our customers, and feel confident in the future of the business under GMS leadership.”
Jerry Speights, Vice President of the Central Division of GMS, stated, “We are pleased to welcome CMH’s GSD employees and customers to the GMS family. Together, our team can offer professional, high-quality service that meets the needs of contractors and builders throughout Nebraska.”
About GMS:
Founded in 1971, GMS operates a network of more than 200 distribution centers across the United States. GMS’s extensive product offering of wallboard, suspended ceilings systems, or ceilings, and complementary interior 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.
About Grabber® Construction Products:
Grabber® is an international distributor of quality products for construction professionals. Grabber's line includes premium fasteners and fastening systems for wood, metal, and drywall applications in the commercial and residential construction markets. Grabber also distributes a wide range of proprietary tools, accessories, equipment, and building materials to the construction industry (www.grabberman.com).
For information on Grabber, please visit www.grabberman.com or call 800-477-TURN (8876).
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, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward-looking statements. These risks and uncertainties may include, among other things: changes in the prices, supply, and/or demand for products which we distribute; general economic and business conditions in the United States; the activities of competitors; changes in significant operating expenses; changes in the availability of capital and interest rates; adverse weather patterns or conditions; acts of cyber intrusion; variations in the performance of the financial markets, including the credit markets; and other 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.
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