GMS Inc. (NYSE:GMS), a leading North American specialty distributor of interior building products, today announced that it has acquired the assets of interior building products distributor Commercial Builders Group, LLC (CBG) in LaPlace, Louisiana.
Since its founding in 2005, CBG has been serving commercial and residential customers in New Orleans and surrounding southeastern Louisiana markets. CBG operates from two facilities located in LaPlace, LA and Walker, LA. CBG offers a full complement of interior building products including drywall, steel studs, acoustical ceilings, insulation and tools and fasteners.
The acquisition of CBG represents GMSs first facilities located in the New Orleans-Metairie, LA and Baton Rouge, LA metropolitan areas, adding coverage of two important Top 100 metro areas nationwide. CBG will join GMS subsidiary company Capitol Materials, Inc. (CMI) and its footprint of 19 existing locations in Georgia, Alabama and the Florida Panhandle to serve customers across the Gulf Coast.
Post-closing, the CBG operations will transition to the CMI brand. CBG President and industry veteran David Lastrapes will transition to CMI and continue to lead the Louisiana operations going forward.
Mr. Lastrapes commented, The CBG team is excited for the opportunity to join the GMS family. For the past 14 years, weve built our business around a commitment to our customers and are looking forward to joining a team that shares those same values. Were genuinely excited for the future of the business and our employees.
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We are thrilled to welcome the CBG team to the GMS family and expand our footprint on the Gulf Coast, remarked Brad Nannen, Vice President of the Southern Division of GMS. He added, Were excited to leverage the scale, operations and service of the combined platform to continue to grow the business, building on the momentum David and his team have already achieved.
Founded in 1971, GMS operates a network of more than 245 distribution centers across the United States and Canada. GMSs extensive product offering of wallboard, suspended ceilings systems, or ceilings, and complementary construction products is designed to provide a comprehensive one-stop-shop for our core customer, the interior contractor who installs these products in commercial and residential buildings.
For more information about GMS, please visit www.gms.com.
ForwardLooking 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.
Leslie H. Kratcoski