GMS Inc. (NYSE:GMS), a leading North American distributor of gypsum wallboard and suspended ceiling systems, announced last week its acquisition of Steven Kempf Building Material Company (“SKBM”), headquartered in King of Prussia, Pennsylvania.
Founded in 1994, SKBM expanded to become a leading supplier of drywall, ceilings, steel studs and related construction products to professional contractors in the greater Philadelphia metro area. SKBM services large and small projects with a strong focus on commercial and multi-family residential end markets.
SKBM operates from a 132,000 square foot state-of-the-art facility, situated in an excellent location with convenient access to serve downtown Philadelphia and surrounding markets.
During its more than 20-year operating history, SKBM has developed a strong reputation for customer service and breadth of products. The entire SKBM team will join GMS, including its founder and President, Steven F. Kempf.
Mr. Kempf stated, “We are excited to join the GMS family. With more than 20 years of dedicated service, we have grown into an industry leader with deep-rooted customer relationships in our markets. Our success is due to our commitment to provide unsurpassed service, quality products and long term relationships to our customers. GMS shares these core principles and provides a perfect fit for the next chapter of our growth.”
Mike Anderson, Vice President of the Northeastern division of GMS, echoed Mr. Kempf’s excitement, “We are thrilled to welcome the SKBM team into the growing GMS family. SKBM is a leading commercial distributor of drywall, steel studs and insulation, as well as a leading distributor of ceilings in the Philadelphia metro area. The expansion of GMS in Pennsylvania plays an important role as we continue to grow in the Mid-Atlantic region. With our national network and their loyal customer base, we expect our expanded regional footprint to continue to be successful for years to come.”
About GMS:
Founded in 1971, GMS operates a national network of distribution centers across the United States. GMS’ 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.
