GMS Inc. (NYSE: GMS) shares slid by noon EDT Thursday. The leading North American specialty building products distributor and parent company to Canada GMS, Inc. today announced that it has entered into an agreement to acquire Yvon Building Supply Inc., Yvon Insulation Corporation, Laminated Glass Technologies, Inc., and Right Fit Foam Insulation Ltd.. expanding GMS Canada's services and product offerings in Ontario.
Said GMS Canada President Paul Green, "We are excited to sign this agreement to have Yvon join GMS Canada and our group of strong, in-market branded companies. The Yvon team has served the Ontario building industry for more than a decade and offers a complete package of primary light construction materials. This acquisition is expected to increase our in-market service capability, which should allow GMS Canada to more fully support our growing customers in the rapidly expanding southern Ontario market. Under Tom Scott's leadership, Yvon has built a team and capability driven by core values that align well with those of GMS."
Since its start more than a decade ago, Yvon has been committed to sourcing a wide range of quality products for its customers. What started out as a garage operation has now expanded to multiple locations across Ontario. Yvon offers a full selection of drywall, insulation (including manufacturing and contractor installation services), finishing compound, steel, ceilings, truss core, security mesh, fasteners, FRP, wood flooring, plywood, paint, construction tools and accessories.
GMS shares lost $1.75, or 1.8%, to $94.53.
