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GMS Strengthens Michigan Presence with Acquisition of ASI Building Products

Tucker, GA - GMS Inc. (NYSE: GMS), a leading North American distributor of gypsum wallboard and suspended ceiling systems, announced today the acquisition of the Michigan-based ASI Building Products, LLC. (“ASI”).

Founded in 1988, ASI is a leading provider of ceilings and other quality building products serving the Eastern Michigan market through three locations: Saginaw, Southfield and Detroit. ASI distributes interior building products for residential and commercial projects of all sizes.

The addition of ASI’s highly complementary geographic footprint and product offering bolsters GMS’s existing service of the Michigan market, which now totals 16 locations in the state with the completion of this acquisition.  ASI majority owner and industry veteran Dave Mayer, along with the entire ASI team, will continue on with GMS going forward.

Mike Brown, Vice President of the Midwest Division of GMS, said, “We are thrilled to welcome ASI Building Products to the GMS family. The acquisition expands GMS’s already strong presence in Michigan with a well-rounded portfolio of high quality products and reinforces the Company’s commitment to excellent customer service.”

Dave Mayer, President of ASI, stated, “The ASI team is excited for the opportunity to join forces with GMS.  The combined platform will allow us to further strengthen our local relationships which we have built through more than 35 years of dedicated service to our customers. We are enthusiastic about this next chapter for our business.” 

About GMS:

Founded in 1971, GMS operates a national network of distribution centers across the United States. GMS’s extensive product offering of wallboard, suspended ceilings systems, or ceilings, and complementary interior 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, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward-looking statements. These risks and uncertainties may include, among other things: changes in the prices, supply, and/or demand for products which we distribute; general economic and business conditions in the United States; the activities of competitors; changes in significant operating expenses; changes in the availability of capital and interest rates; adverse weather patterns or conditions; acts of cyber intrusion; variations in the performance of the financial markets, including the credit markets; and other 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.

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