GMS Inc. (NYSE: GMS), Tucker, Georgia, announced on Friday that it has wrapped up its $135 million deal to buy Westside Building Material. The acquisition of Westside was first announced in May.
Founded in 1935 and headquartered in Anaheim, Calif., Westside is a supplier of steel framing, wallboard, acoustical ceilings, insulation and related building products serving commercial and residential markets. Westside’s distribution network was comprised of 10 locations, including nine across California (Anaheim, Hesperia, Oakland, Chatsworth, Fresno, Lancaster, Santa Maria, San Diego and National City) and one in Las Vegas, Nevada.
“Westside significantly increases our reach in several major California markets and represents our first foray into the Las Vegas market,” said John C. Turner Jr., President and Chief Executive Officer of GMS. “Expanding our geographic platform through accretive acquisitions, such as this one, continues to be a vital component of our strategic growth priorities.”
GMS funded the deal with cash on hand and available borrowings on its revolving credit facility. Founded in 1971, GMS operates a network of more than 275 distribution centers across the United States and Canada. GMS’s product offerings include wallboard, suspended ceilings systems, and complementary construction products.