GMS’ WSB Titan acquires D.L. Building Materials

CPE News (2/5/2021) – WSB Titan, a subsidiary of GMS Inc. (NYSE: GMS) has acquired D.L. Building Materials, Inc. from founder Richard Davis. Financial terms were not disclosed.

Founded in 1988, DL is a leading supplier of wallboard, acoustical ceilings, steel framing, insulation and related building products serving Eastern Ontario and Western Quebec markets through two locations in Gatineau, Quebec and Kingston, Ontario.

Founder Richard Davis, General Manager Shana Davis and their entire team will continue to lead the business going forward.

With the addition of DL, GMS expands its Canadian presence to begin service of the greater Ottawa-Gatineau, Ontario-Quebec market, the sixth largest metropolitan area in Canada and the federal capitol city. The acquisition also marks GMS’ first location in the Quebec market as it continues to execute on strategic expansion goals in Canada.

Founded in 2009, Vaughan, Ontario based WSB Titan is the largest wallboard distributor in Canada and operates from a network of over 30 distribution locations across six Canadian Provinces stretching from Vancouver Island to Quebec.

In June 2018, GMS acquired WSB Titan from management and TorQuest for US $627 million or CDN $800 million.

photo credit: D.L. Building Materials

News Release

WSB Titan Announces Acquisition of D.L. Building Materials
Expands Canadian Presence to Ottawa-Gatineau Market; first location in Quebec

February 05, 2021 08:30 AM Eastern Standard Time

VAUGHAN, Ontario–(BUSINESS WIRE)–WSB Titan (“Titan”), a subsidiary of GMS Inc. (NYSE: GMS), a leading North American specialty distributor of interior building products, today announced the completion of the acquisition of D.L. Building Materials, Inc. (“DL”).

Founded in 1988, DL is a leading supplier of wallboard, acoustical ceilings, steel framing, insulation and related building products serving Eastern Ontario and Western Quebec markets through two locations in Gatineau, QC and Kingston, ON. With the addition of DL, GMS expands its Canadian presence to begin service of the greater Ottawa-Gatineau, ON-QC market, the sixth largest metropolitan area in Canada and the federal capitol city. The acquisition also marks GMS’s first location in the Quebec market as it continues to execute on strategic expansion goals in Canada.

Founder Richard Davis, General Manager Shana Davis and their entire team will continue to lead the business going forward. DL locations will continue to operate under the D.L. Building Materials brand and in connection with Titan’s existing seven locations operating across Southern Ontario as Watson Building Supplies to service customers across the region.

“Over a 30-plus year history, we’ve always prided ourselves on quality service, superior operations and an entrepreneurial culture,” remarked Mr. Davis. He added, “I’m thrilled for our employees, customers and vendors to see that legacy continue in partnership with the Titan / GMS family and am looking forward to a truly bright future for our business.”

Travis Hendren, President of WSB Titan, commented “We’re excited to formally welcome Richard, Shana and the entire DL team. We have a long relationship with DL and been working together for over a decade but welcome them becoming part of GMS. Today represents a strategically significant milestone for the company as we enter the Ottawa market and continue to build out the industry’s most comprehensive nationwide platform.”

About WSB Titan:

Headquartered in Vaughan, ON and founded in 2009, WSB Titan is the largest wallboard distributor in Canada and operates from a network of over 30 distribution locations across six Canadian Provinces stretching from Vancouver Island to Quebec.

For more information about WSB Titan, please visit www.wsbtitan.com.

About GMS:

Celebrating the 50th anniversary of its founding in 1971, GMS operates a network of more than 260 distribution centers across the United States and Canada. GMS’s 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.

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.

Contacts

Leslie H. Kratcoski
Vice President, Investor Relations
Phone: 770-723-3306
Email: ir@gms.com