GMS Strengthens Michigan Presence with Acquisition of ASI Building Products
August 02 2017 - 7:00AM
Business Wire
GMS Inc. (NYSE:GMS), a leading North American distributor of
gypsum wallboard and suspended ceiling systems, announced today the
acquisition of the Michigan-based ASI Building Products, LLC.
(“ASI”).
Founded in 1988, ASI is a leading provider of ceilings and other
quality building products serving the Eastern Michigan market
through three locations: Saginaw, Southfield and Detroit. ASI
distributes interior building products for residential and
commercial projects of all sizes.
The addition of ASI’s highly complementary geographic footprint
and product offering bolsters GMS’s existing service of the
Michigan market, which now totals 16 locations in the state with
the completion of this acquisition. ASI majority owner and industry
veteran Dave Mayer, along with the entire ASI team, will continue
on with GMS going forward.
Mike Brown, Vice President of the Midwest Division of GMS, said,
“We are thrilled to welcome ASI Building Products to the GMS
family. The acquisition expands GMS’s already strong presence in
Michigan with a well-rounded portfolio of high quality products and
reinforces the Company’s commitment to excellent customer
service.”
Dave Mayer, President of ASI, stated, “The ASI team is excited
for the opportunity to join forces with GMS. The combined platform
will allow us to further strengthen our local relationships which
we have built through more than 35 years of dedicated service to
our customers. We are enthusiastic about this next chapter for our
business.”
About GMS
Founded in 1971, GMS operates a network of more than 200
distribution centers across the United States. The
company’s extensive product offerings include wallboard,
suspended ceilings systems and complementary interior construction
materials. GMS is designed to provide comprehensive
one-stop-shopping for its core customers -- interior contractors
who install these products in commercial and residential buildings.
For more information about GMS, please
visit www.gms.com or email marketing@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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