GMS Announces Ongoing Platform Expansion Activity

Rhea-AI Summary

GMS Inc. (NYSE: GMS) has announced the opening of six new greenfield locations and five new AMES Taping Tools stores since early December 2021, enhancing its geographic footprint. This growth strategy aims to provide a broader range of products and services to customers in new Top 100 Metropolitan Statistical Areas. The new locations include Fort Myers, Milford, Abilene, Statesboro, Baltimore, and Ocean Springs. Additionally, AMES has expanded with new stores in Madison, Houston, Pflugerville, Greenville, and Peoria, further enhancing market coverage.

Positive

• Opened six new greenfield locations, enhancing market reach.
• Five new AMES Taping Tools stores opened, strengthening product offerings.
• Expansion includes service in new Top 100 Metropolitan Statistical Areas.

Negative

• None.

• Six new greenfield locations enhance geographic footprint, with expansion into two new markets
• Ames Taping Tools opens five new store locations

TUCKER, Ga.--(BUSINESS WIRE)-- GMS Inc. (NYSE: GMS), a leading North American specialty building products distributor, today provided an update on the continued execution of its growth strategy with six new greenfield openings, as well as the expansion of the footprint of its AMES Taping Tools (“AMES”) business with the opening of five new stores since GMS assumed ownership in early December 2021.

“Expanding our platform is one of the four key components of our growth strategy, and the team continues to execute well,” said John C. Turner, Jr., President and Chief Executive Officer of GMS. “We are not only adding key geographies to our existing footprint and core product offerings, but we are also adding capacity to further accelerate growth of our complementary products, enhancing the selection, services and value we provide to our customers.”

Greenfield Location Openings

As part of its organic growth strategy, GMS has opened six new greenfield locations since the start of January, expanding its presence to provide service to two new Top 100 Metropolitan Statistical Areas (“MSA’s”) and enhancing its service capabilities and product offerings in several others.

• In Fort Myers, FL, GMS expands its Southwest Florida presence to add an eighteenth location servicing the State of Florida. The new location fills an important whitespace area for GMS in this Top 100 MSA.

• In Milford, CT, GMS stretches its footprint into Southeast Connecticut to expand coverage into a new Top 100 MSA market.

• In Abilene, TX, GMS expands westward from its regional base of operations in the Dallas/Fort Worth area to add coverage of the metro area.

• In Statesboro, GA, GMS expands its presence to add in-market coverage of the growing Statesboro, GA market.

• In Baltimore, MD, GMS expands its coverage in the greater DC/Baltimore metro area, building on its market-leading position and adding this location to, in part, bring an enhanced focus on its tools and fastener offerings in the region.

• In Ocean Springs, MS, GMS enhances its presence and ability to provide outstanding service in the Gulf Coast region with its second location in the State of Mississippi following the recent 2021 greenfield in Jackson, MS.

AMES Platform Expansion

Following its acquisition by GMS in December 2021, the AMES platform continues to grow and execute against its previously existing growth strategy by adding new AMES® store locations in five markets. Locations in Madison, TN, Houston, TX, Pflugerville, TX and Greenville, SC will add further market coverage to existing geographies, while a store in Peoria, IL adds coverage to a new market for AMES.

GMS expects to continue to build on its strong momentum with several additional near-term greenfield and AMES expansion opportunities identified.

About GMS:

Founded in 1971, GMS operates a network of nearly 300 distribution centers with extensive product offerings of wallboard, ceilings, steel framing and complementary construction products. In addition, GMS operates more than 90 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220215005270/en/

Carey Phelps

Vice President, Investor Relations

Phone: 770-723-3369

Email: ir@gms.com

Source: GMS Inc.

FAQ

What is GMS's recent expansion announcement?

GMS announced the opening of six new greenfield locations and five new AMES Taping Tools stores, enhancing its geographic footprint.

Where are the new GMS locations located?

The new locations include Fort Myers, FL; Milford, CT; Abilene, TX; Statesboro, GA; Baltimore, MD; and Ocean Springs, MS.

What markets is GMS expanding into?

GMS is expanding into new Top 100 Metropolitan Statistical Areas, including Southeast Connecticut and Southwest Florida.

How many new AMES Taping Tools stores were opened?

Five new AMES Taping Tools stores were opened in Madison, TN; Houston, TX; Pflugerville, TX; Greenville, SC; and Peoria, IL.

When did GMS take ownership of AMES Taping Tools?

GMS assumed ownership of AMES Taping Tools in early December 2021.