GMS to acquire Yvon Building Supply for CAD$196.5M

GMS announced that it has entered into an agreement to acquire Yvon Building Supply, Yvon Insulation , Yvon Insulation Windsor, Laminated Glass Technologies , and Right Fit Foam Insulation for an aggregate purchase price of up to CAD$196.5M . This transaction is expected to close in July 2024 and is subject to regulatory approvals and other customary closing conditions….Tom Scott, President of Yvon, added, “This acquisition is an exciting next chapter for the Yvon team. With shared values and a strong commitment to delivering outstanding customer service, joining with an industry leader like GMS represents an exciting growth opportunity for the combined business and an opportunity to better serve our customers with expanded service and product offerings.” GMS expects to fund this transaction with cash on hand and borrowings under its established revolving credit facility. Following the close of the transaction, the newly acquired businesses are expected to continue to operate under their existing brand names and under the leadership of current Yvon President, Mr. Scott. In addition, Yvon will partner with GMS Canada’s Watson and Blair brands in the local market.