GMS Acquires Trowel Trades Supply, Inc.

Provides Entrance into Vermont, Expanding U.S. Coverage to 44 States

TUCKER, Ga.--(BUSINESS WIRE)--GMS Inc. (NYSE: GMS), a leading North American specialty distributor of interior building products, today announced that it has acquired Trowel Trades Supply, Inc. (“Trowel Trades”), a single-location distributor based in Colchester, Vermont.

Founded in 1968, Trowel Trades serves residential and commercial customers in the greater Burlington, Vermont metro area and related surrounding markets. Trowel Trades offers a full complement of interior building materials as well as masonry and hardscape products.

The acquisition of Trowel Trades represents GMS’s entrance into Vermont, expanding its coverage in the U.S. to 44 states. The acquisition also follows recent greenfield expansions in Portland, Maine and Manchester, New Hampshire, reflecting the long-term strategic importance of the New England market. Trowel Trades will join GMS subsidiary New England Gypsum Supply, Inc. (“New England Gypsum Supply”) and its seven existing branch locations in Massachusetts, Connecticut, Maine and New Hampshire.

The Trowel brand, which has served the Burlington market for over 50 years, will be retained at the Colchester, Vermont location while New England Gypsum Supply locations will continue to operate under their current branding.

Trowel Trades will continue to operate under the leadership of current co-branch managers Mike Smullen and Bernie Metivier, both industry veterans with significant Trowel Trades and industry experience.

David and Richard Vaughan of Trowel Trades commented, “We are thrilled to be joining GMS and excited for the future of our employees, customers and suppliers alike in partnering with a company who shares so many of our core values.”

Mike Anderson, Vice President of the Northeast Division of GMS added, “We’re excited to welcome the Trowel Trades family to GMS. We look forward to Mike, Bernie and the Trowel Trades team working closely with New England Gypsum Supply to better serve customers both in Vermont and across New England with the combined scale and capabilities of the two operations.”

About GMS:

Founded in 1971, GMS operates a network of more than 260 distribution centers across the United States and Canada. GMS’s extensive product offering of wallboard, suspended ceilings systems, or ceilings, and complementary construction products is designed to provide a comprehensive one-stop-shop for our core customer, the interior contractor who installs these products in commercial and residential buildings.

For more information about GMS, please visit www.gms.com.

Forward‐Looking Statements and Information:

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by our use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "seek," or "should," or the negative thereof or other variations thereon or comparable terminology. We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such 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 those factors described in the "Risk Factors" section in our filings with the SEC. We undertake no obligation to update any of the forward-looking statements made herein, whether as a result of new information, future events, changes in expectation or otherwise.