GMS Inc. has entered into a definitive agreement to acquire AMES Taping Tools Holding LLC. The transaction is expected to close in the company’s fiscal third quarter 2022 with a purchase price of $212.5 million in cash.
AMES provides a complement to GMS’s current offerings, expanding the company’s presence in the tools and fasteners market. AMES’s portfolio includes the TapeTech® finishing tool brand and the specialty interior finishing e-commerce platform, All-Wall®. For the 12 months ended Sept. 30, 2021, AMES achieved net sales of approximately $100 million.
Following the closing of the transaction, AMES’s current management team, including President & CEO Jay Davisson, will continue to lead the business, which will continue to operate under the “AMES” brand as it has for over 80 years.
GMS expects to leverage its existing relationship with AMES and the sourcing arrangements at GMS’s subsidiary, Tool Source Warehouse, to expand and enhance AMES’s distribution model, better capitalize on available growth opportunities and provide an even higher level of service to customers.
This transaction is expected to close in GMS’s fiscal third quarter of 2022.
