Gypsum Management & Supply (GMS) entered into an agreement to acquire Yvon Building Supply, Yvon Insulation Corporation, Yvon Insulation Windsor, Laminated Glass Technologies, and Right Fit Foam Insulation—collectively known as Yvon—for an aggregate purchase price of up to C$196.5 million. The transaction is expected to close in July 2024 and is subject to regulatory approvals and other customary closing conditions.
“We are excited about this opportunity to expand our presence in southern Ontario and look forward to welcoming the Yvon team of highly respected and knowledgeable building products professionals to GMS,” John Turner, president and CEO of GMS, said in a prepared statement. “Reflecting the continued execution of our growth strategy, 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.”
Yvon has provided building supplies and been a partner to customers throughout the greater Toronto and Ontario areas for over 10 years. Yvon operates seven locations across Ontario, providing drywall, insulation, steel, ceilings, and other complementary products and related services, including installed insulation. For the twelve month period ended Feb. 29, Yvon generated net revenues in excess of C$190 million.
“This acquisition is an exciting next chapter for the Yvon team,” Tom Scott, president of Yvon, said. “With shared values and a strong commitment to delivering outstanding customer service, joining with an industry leader like GMS represents an exciting growth opportunity for the combined business and an opportunity to better serve our customers with expanded service and product offerings.”
GMS said following the close of the transaction, the acquired businesses are expected to continue to operate under their existing brand names and under their current leadership teams. Yvon will partner with GMS Canada’s Watson and Blair brands in their local markets, according to GMS.
GMS operates a network of over 300 distribution centers offering wallboard, ceilings, steel framing, and complementary products. Additionally, the company operates more than 100 tool sales, rental, and service centers across the U.S. and Canada.
