GMS Expands Its Complementary Product Offerings with the Acquisition of AMW Construction Supply in Phoenix, AZ; Also Announces Further Platform Expansion Activities

Rhea-AI Summary

GMS Inc. announces acquisition of AMW Construction Supply, two new greenfield yards, and two new AMES store locations as part of its growth strategy.

Positive

• GMS Inc. expands its Complementary Products category with the acquisition of AMW Construction Supply, a tools and fasteners distributor in Phoenix, AZ.
• GMS Inc. opens two new greenfield yards in Jessup, MD and Elizabeth, NJ, expanding its presence in the Northeast market.
• AMES platform, acquired by GMS in December 2021, adds two new store locations in San Antonio, TX and Palm Desert, CA.

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• None.

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 the acquisition of AMW Construction Supply, LLC, (“AMW”), a highly respected tools and fasteners and other complementary products distributor servicing the Phoenix, AZ metro area. In addition, the Company announced the recent openings of two new greenfield yards and two new AMES store locations.

“We are pleased to announce the continued expansion of Complementary Products with the acquisition of AMW Construction Supply,” said John C. Turner, Jr., President and Chief Executive Officer of GMS. “With a service-focused culture and deep tools and fasteners expertise, we are excited to welcome the AMW team to GMS. We look forward to leveraging their capabilities to further expand this business as we continue our focus on growing this margin-accretive category.”

AMW Construction Supply, LLC.; Acquired October 2, 2023

Founded in 1984, AMW, based in Phoenix, AZ, is a highly respected distributor of tools and fasteners used in both residential and commercial framing and concrete projects. Backed by employees with over 125 years combined experience in the industry, AMW has established strong partnerships with leading industrial product manufacturers to bring to market the region’s best and most complete line of products and services to the construction, stone, and brick products industry. AMW will continue to operate under its legacy name and will further support GMS’s existing presence in the Phoenix market and provide additional Complementary Product offerings across the region.

Greenfield Location Openings

GMS also recently established two new greenfield locations, expanding its presence to provide enhanced service and product offerings in the following markets:

• In Jessup, MD and Elizabeth, NJ, GMS adds to its Capitol Building Supply, Inc. platform, further expanding service and capabilities across the broader Northeast market.

AMES Platform Expansion

Following its acquisition by GMS in December 2021, the AMES platform over the summer continued to execute against its growth strategy by adding two new AMES® store locations in San Antonio, TX and Palm Desert, CA.

About GMS:

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20231003542291/en/

Carey Phelps

Vice President, Investor Relations

Phone: 770-723-3369

Email: ir@gms.com

Source: GMS Inc.