TUCKER, Ga.–(BUSINESS WIRE)–February 15, 2022–
GMS Inc. (NYSE: GMS), a leading North American distributor of specialty building products, today provided an update on the continued execution of its growth strategy with six new openings, as well as on expanding its AMES (“AMES”) tapping tools footprint with the opening of five new stores since GMS took ownership in early December 2021.
“Expanding our platform is one of four key elements of our growth strategy, and the team continues to perform well,” said John C. Turner, Jr., President and CEO of GMS. “We are not only adding key geographies to our existing footprint and core product offerings, but we are also adding capabilities to further accelerate the growth of our complementary products, enhancing the selection, services and value we offer. to our customers.”
Greenfield Location Openings
As part of its organic growth strategy, GMS has opened six new locations since the beginning of January, expanding its presence to provide services to two new top 100 Metropolitan Statistical Areas (“MSAs”) and enhancing its service capabilities and its product offerings in several others.
- In Fort Myers, Florida, GMS expands its presence in Southwest Florida to add an eighteenth location serving the State of Florida. The new location occupies an important white area for GMS in this Top 100 MSA.
- In Milford, ConnecticutGMS expands its footprint in southeast Connecticut to expand coverage in a new MSA Top 100 market.
- In Abilene, TXGMS is expanding west from its regional base of operations in the Dallas/Fort Worth area to add metro area coverage.
- In Statesboro, GeorgiaGMS is expanding its presence to add market coverage in the growing Statesboro, GA market.
- In Baltimore, MDGMS is expanding its coverage in the greater DC/Baltimore metro area, building on its market-leading position and adding this location to, in part, increase its focus on its tools and fasteners offerings In the region.
- In Ocean Springs, MSGMS is strengthening its presence and ability to provide exceptional service in the Gulf Coast region with its second location in the state of Mississippi following the recent 2021 greenfield in Jackson, MS.
Extension of the AMES platform
Following its acquisition by GMS in December 2021, the AMES platform continues to grow and execute against its existing growth strategy by adding new AMES® store locations in five markets. Locations in Madison, TN, Houston, TX, Pflugerville, TX and Greenville, SC will add additional market coverage to existing geographies, while a store in Peoria, IL adds coverage to a new market for AMES.
GMS expects to continue to build on its strong momentum with several new near-term expansion and AMES opportunities identified.
Founded in 1971, GMS operates a network of nearly 300 distribution centers with an extensive product line of wall panels, ceilings, structural steel and complementary building products. In addition, GMS operates more than 90 tool sales, rental and service centers, offering a comprehensive selection of construction products and solutions for its residential and commercial contractor customer base across the United States and Canada. . The company’s unique operating model combines the advantages of a national platform and strategy with a local market focus, enabling GMS to generate significant economies of scale while maintaining high standards of customer service.
For more information about GMS, please visit www.gms.com.
Forward-Looking Statements and Information:
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by using forward-looking words such as “anticipate”, “believe”, “continue”, “continue”. could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, “potential”, “predict”, “seek” or “should”, or the negative of it or other variations of it or comparable terminology. We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. Although we believe these expectations, assumptions, estimates and projections to be reasonable, these 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 the factors described in the “Risk Factors” section of our filings with the SEC. We undertake no obligation to update any forward-looking statements made herein, whether as a result of new information, future events, changes in expectations or otherwise.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220215005270/en/
CONTACT: Carey Phelps
Vice President, Investor Relations
Email: [email protected]
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
SECTOR KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & REAL ESTATE
SOURCE: GMS Inc.
Copyright BusinessWire 2022.
PUBLICATION: 02/15/2022 07:00 / DISK: 02/15/2022 07:02
Copyright BusinessWire 2022.