GMS Acquired by Home Depot | Industrials M&A Deal

Home Depot has completed the acquisition of GMS, a industrial distribution business in Ontario, for $5.5 billion. GMS distributes specialty building products including drywall, ceilings, and steel framing for residential and commercial remodeling and construction projects, strengthening Home Depot’s pro-focused supply chain. The Home Depot acquisitions expand industrial distribution acquisition capabilities through SRS Distribution, adding multi-category product categories, customer relationships, and fulfillment options for contractors across Ontario. The strategic acquisition is structured as a merger acquisition, completed after a tender offer for all outstanding GMS shares, with the tender expiring in early September 2025.