GMS Enters Into Agreement With The Home Depot to Be Acquired by SRS Distribution

GMS Inc. announced at the end of June that it has entered into a definitive agreement with The Home Depot, to be acquired by its specialty trade distribution subsidiary, SRS Distribution. Under the terms of the agreement, a subsidiary of SRS will commence a tender offer to acquire all outstanding shares of GMS common stock for $110.00 per share, for a total enterprise value (including net debt) of approximately $5.5 billion.

John C. Turner Jr., President and Chief Executive Officer of GMS, and GMS’ senior leadership team, will continue to lead GMS as part of the SRS organization.