FX.co ★ GMS To Buy Yvon For C$196 Mln

GMS Inc. (GMS), a distributor of specialty building products, announced on Thursday its agreement to acquire several entities collectively known as Yvon. These entities include Yvon Building Supply, Inc., Yvon Insulation Corp., Yvon Insulation Windsor, Laminated Glass Technologies, Inc., and Right Fit Foam Insulation Ltd. The acquisition deal is valued at up to C$196.5 million.

The transaction, slated for completion in July, will be financed through a combination of available cash and debt.

John Turner Jr., the CEO of GMS, expressed enthusiasm about the acquisition, stating, "We are excited about this opportunity to expand our presence in southern Ontario."

Yvon, established over a decade ago, has been a reliable supplier of building materials to customers throughout Greater Toronto and Ontario.

Operating from seven locations across Ontario, Yvon offers a range of products and services including drywall, insulation, steel, and ceilings. Following the acquisition, these businesses are expected to retain and operate under their original brand names.