GMS Strengthens Southeast Presence with Acquisition of Florida Drywall Distributor
September 02 2016 - 6:55AM
Business Wire
GMS Inc. (NYSE:GMS), a leading North American distributor of
gypsum wallboard and suspended ceiling systems, announced today its
acquisition of Olympia Building Supplies, LLC (“Olympia”).
Olympia is a leading supplier of wallboard and related
construction products including steel studs, joint compound,
finishing products, insulation and other specialty products to the
South Florida market. Founded in 2008, Olympia has grown rapidly
from a single location in Pompano, Florida to the current network
of three branch locations located in Pompano, Miami and West Palm
Beach. Led by a very talented senior management team averaging in
excess of 20 years of industry experience, Olympia is
well-positioned to service the commercial and multi-family
residential end markets.
Olympia will continue to operate under its current name, which
has garnered significant respect and brand recognition among
professional contractors in its markets. The entire team will join
GMS, including its General Manager, Roger Shingler, an established
and respected industry veteran.
Shingler said, “Combining forces with GMS is the right next step
in our growth trajectory. GMS shares our passion for customer
service and our commitment to providing high-quality products. We
have successfully expanded our business to become a leading
specialty distributor in Pompano, Miami and West Palm Beach,
Florida. We are excited to further improve our ability to serve new
and existing customers with the strong support of GMS’ national
scale, operational expertise, and strong financial position. Being
a part of the GMS family is the perfect fit for us.”
Chris Doyle, Vice President of the Southeastern division of GMS,
added. “We are very happy to welcome the Olympia team to our
company. Olympia is an excellent strategic fit for GMS with its
broad product offering and loyal customer base in attractive
markets. The acquisition of these three established locations in
South Florida provides a very complementary addition to our strong
existing positons in Central and Northern Florida. Furthermore, the
highly seasoned team is driven by success. We look forward to
integrating these assets onto our platform and remain vigilant in
our pursuit to further strengthen GMS’ leadership positions in the
Southeast and nationally for years to come.”
About GMS:
Founded in 1971, GMS operates a national network of distribution
centers across the United States. GMS’ 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, 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, 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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