GMS to Acquire Westside Building Material
GMS Inc. has entered into a definitive agreement to acquire substantially all the assets of Westside Building Material), one of the largest independent distributors of interior building products in the United States, for $135 million in cash.
Founded in 1935 and headquartered in Anaheim, Calif., Westside is a supplier of steel framing, wallboard, acoustical ceilings, insulation and related building products serving commercial and residential markets. Westside’s distribution network comprises ten locations, including nine across California and one in Las Vegas. For the 12 months ended Dec. 31, 2020, Westside generated net revenues of approximately $200 million.
Westside’s current management team, including President Dick Peckham and Chief Executive Officer Bill Peckham, will continue to lead the business and provide the same high level of service that its contractor and homebuilder customers have come to expect.
Following the close of the transaction, Westside will continue to operate under the “Westside” brand. In addition, Westside will partner with seven existing GMS locations across California operating under the “J&B Materials,” “Hathaway Building Materials” and “Charles G. Hardy.”
The transaction is expected to close early in the third calendar quarter of 2021, subject to the satisfaction of customary closing conditions.