GMS Expands into Kingston, Ontario with Acquisition of Rigney Building Supplies LTD.
TUCKER, Ga.--(BUSINESS WIRE)--Nov 4, 2019--
GMS Inc. (NYSE: GMS), a leading North American specialty distributor of interior building products, today announced that it has acquired Rigney Building Supplies LTD. (“Rigney”), a single-location distributor based in Kingston, Ontario.
Founded in 1972, Rigney serves residential and commercial customers in the Greater Kingston, Ontario market, a Top 25 Canadian metropolitan area. Rigney offers a full complement of interior building materials, as well as masonry and landscaping products.
The acquisition of Rigney aligns with GMS’s overall acquisition strategy and reflects the long-term strategic importance of the Canadian market. It also represents an extension of GMS’s current service footprint in Southern Ontario under the Watson Building Supplies (“Watson”) brand. The location will continue to operate under the “Rigney” brand, which has served the Kingston market for over 45 years, and will complement Watson’s existing network of six Ontario locations in Vaughan, London, Barrie, Burlington, Cambridge and Belleville to better serve customers.
Post-closing, Rigney co-owners Claudio and Nadia Saccon will continue to lead the operations.
Claudio Saccon commented, “The Rigney team looks forward to joining the GMS family. We are delighted to join a company that shares our values and commitment to customers.” Nadia Saccon added, “We’re excited for the future of the business and our employees.”
“We are pleased to welcome the Rigney team to the GMS and Titan family,” said Travis Hendren, Executive Vice President of WSB Titan. He added, “This acquisition allows GMS to expand its presence in Eastern Ontario by adding a location in Kingston. We’re excited to leverage the operations and service of the combined platform to continue to grow the business and build on the momentum Rigney and Watson have achieved.”
Founded in 1971, GMS operates a network of more than 250 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.
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CONTACT: Investor Relations:
KEYWORD: UNITED STATES NORTH AMERICA CANADA GEORGIA
INDUSTRY KEYWORD: RETAIL RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE SPECIALTY CONSTRUCTION & PROPERTY LANDSCAPE
SOURCE: GMS Inc.
Copyright Business Wire 2019.
PUB: 11/04/2019 04:05 PM/DISC: 11/04/2019 04:05 PM