GMS To Buy Yvon For C$196 Mln

(RTTNews) - GMS Inc. (GMS), a specialty building products distributor, announced on Thursday that it has signed a deal to acquire Yvon Building Supply, Inc., Yvon Insulation Corp., Yvon Insulation Windsor, Laminated Glass Technologies, Inc., and Right Fit Foam Insulation Ltd., collectively Yvon for up to C$196.5 million.

The transaction, to be closed in July, is expected to be funded by cash on hand and debt.

John Turner Jr., CEO of GMS said: "We are excited about this opportunity to expand our presence in southern Ontario."

For over 10 years, Yvon has provided building supplies to customers throughout Greater Toronto and Ontario.

With seven locations across Ontario, Yvon provides drywall, insulation, steel, ceilings, and other products and related services. Post-transaction, the newly acquired businesses are expected to continue to operate under their existing brand names.