GMS expands its presence in New York City with new acquisition

GMS Inc., a leading North American specialized building products distributor, offered an update today on the continuous execution of its platform expansion plan with its first forays into the New York City market.

These include the acquisition of Tanner Bolt and Nut, Inc. and the development of a greenfield location focusing on ceilings.

In addition, the Company gave information on additional recent greenfield yard and AMES store openings.

“We are excited to announce our first entries in the New York City market with the acquisition of Tanner Bolt and Nut, Inc. and the expansion of our relationship with USG to supply ceiling products from a new greenfield location in Brooklyn,” President and Chief Executive Officer John C. Turner, Jr. said.

“We are pleased to take this first step into such a significant market. With Tanner’s focus on tools and fasteners, these additions, along with the establishment of several new greenfield yard locations and AMES stores over the last several months represent our continued commitment to the execution of our strategic priorities of platform expansion and Complementary Product growth.”

Tanner Bolt and Nut, Inc. Acquired December 30, 2022

Tanner Bolt and Nut, Inc., situated in Brooklyn, New York, was founded in 1979 and is a leading distributor of fasteners, tools, safety, and associated construction items to the greater New York City market.

The acquisition of Tanner’s four metro area stores creates GMS’s initial positioning with Complementary Product offerings in the New York Metro area.

President Jeffrey Tannenbaum and the Tanner team will continue to operate the business under the Tanner brand name, building on a 40-year legacy in the market.

Tanner will work with Capitol Building Supply, Inc.’s traditional GMS operations to serve customers in the Northeast.

Greenfield Location Openings

Since its last platform expansion press release, GMS has also built three new greenfield locations. The operations increase the Company’s footprint in their respective markets, improve service, and widen product offerings:

• GMS created a dedicated facility focused on the growth of acoustical ceilings business into the New York City metro area earlier this week in New York, NY, expanding upon its existing USG partnership in other Northeast locations.
• GMS expanded its Colonial Materials, Inc. operations in Greenville, NC, with a site serving the greater Greenville area.
• GMS added its eighth facility to the Commonwealth Building Materials network in Chester, VA, expanding its coverage of the Richmond, VA area.

Since the beginning of fiscal 2023, GMS has added six additional greenfield locations.