GMS Expands in Los Angeles Area with Acquisition of Charles G. Hardy, Inc.
Aug. 07, 2018
TUCKER, Ga.--(BUSINESS WIRE)--Aug 7, 2018--GMS Inc. (NYSE:GMS), a leading North American distributor of gypsum wallboard and suspended ceiling systems, today announced that it has acquired the assets of interior building products distributor Charles G. Hardy Inc. (“CGH”) in Paramount, California.
Since its founding in 1946, CGH has been serving commercial and residential customers in Los Angeles and the surrounding areas. CGH offers a variety of interior building products including drywall, steel studs, acoustical ceilings, insulation, commercial doors and hardware.
The acquisition of CGH results in GMS’s first facility located in the Los Angeles-Long Beach-Anaheim, CA metropolitan area, the second-largest nationwide. CGH will join GMS’s five existing locations in El Cajon, El Centro, Escondido, Palm Desert and Perris, California to provide comprehensive coverage of Southern California.
The CGH brand name, which has been in the Los Angeles market for over 70 years, will be retained at the Paramount, CA location while legacy GMS locations in Southern California will continue to operate under the J&B Materials brand name.
Joe Barloon, President of CGH, commented, “As it was the day we opened in 1946, customer service has always been the cornerstone of our business. We are thrilled to find those same values in GMS and are excited to further improve our ability to serve our customers and grow the business.”
“We are excited to welcome the CGH team to the GMS family and expand our footprint in Southern California,” remarked Don Taylor, Vice President of the Western Division of GMS. He added, “We are driven by success and a commitment to provide the best possible service and products to our customers. The wealth of experience and product expertise CGH brings to the table is impactful and I’m enthusiastic about this strategically significant step for GMS in Southern California.”
Founded in 1971, GMS operates a network of more than 240 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, 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.
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KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA GEORGIA
INDUSTRY KEYWORD: BUILDING SYSTEMS HOME GOODS MANUFACTURING OTHER MANUFACTURING ARCHITECTURE INTERIOR DESIGN RETAIL CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY
SOURCE: GMS Inc.
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PUB: 08/07/2018 04:15 PM/DISC: 08/07/2018 04:15 PM