Canada: US-based GMS has agreed to acquire Yvon Building Supply and associated companies for US$144m. The deal includes Yvon Insulation, Yvon Insulation Windsor, Laminated Glass Technologies and Right Fit Foam Insulation. The transaction is expected to close in July 2024 and is subject to regulatory approvals and other closing conditions.
GMS expects to fund the purchase with cash and its established revolving credit facility. Once completed, the Yvon companies are expected to continue to operate under their existing brand names and under the leadership of current president, Tom Scott. In addition, Yvon will partner with GMS Canada’s Watson and Blair brands in the local market.
John C Turner, Jr, the president and CEO of GMS said, “We look forward to this transaction expanding our product and service offerings, including further expanding our Complementary Products category, in the fast-growing Greater Toronto Area and throughout southern Ontario.”
