Canada GMS Inc. to Expand with the Acquisition of Yvon Building Supply and Affiliates

TORONTO, May 16, 2024 /CNW/ - GMS Inc. (NYSE: GMS), a leading North American specialty building products distributor and parent company to Canada GMS, Inc. ("GMS Canada"), 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. (collectively "Yvon" or the "Company"), expanding GMS Canada's services and product offerings in Ontario, Canada.

"We are excited to sign this agreement to have Yvon join GMS Canada and our group of strong, in-market branded companies," said Paul Green, President of GMS Canada. 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."

Tom Scott, President of Yvon, added, "our business was built on family values and a passion for customer service. Our growth over the last 13 years has been directly attributable to our dedicated staff and supportive customer base. The Yvon team looks forward to joining the GMS family of companies upon the close of this transaction. They not only share our values and commitment to customers but bring a tremendous growth opportunity going forward."

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.

After the transaction closes, President of the Yvon team, Tom Scott, and his senior leadership group are expected to continue with the business going forward, operating under the Yvon brand name but integrating closely with GMS's service brands in Canada.

About GMS:
Founded in 1971, GMS operates a network of approximately 300 distribution centers with extensive product offerings of Wallboard, Ceilings, Steel Framing and Complementary Products. In addition, GMS operates approximately 100 tool sales, rental, and service centers, providing a comprehensive selection of building products and solutions for its residential and commercial contractor customer base across the United States and Canada. The Company's unique operating model combines the benefits of a national platform and strategy with a local go-to-market focus, enabling GMS to generate significant economies of scale while maintaining high levels of customer service.

For more information about GMS, please 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 those 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.

SOURCE GMS Canada

Anna Mastronardi, Executive Assistant, GMS Canada, 1-905-669-1898, [email protected]