Gypsum Management & Supply (GMS) announced the completion of its previously disclosed acquisition of New York-based Kamco Supply Corporation. Kamco supplies ceilings, wallboard, steel, lumber, and other complementary construction products in the New York City metro area.
“As we highlighted during our fiscal third quarter 2024 earnings report, we are pleased to complete this meaningful expansion into the New York City market and to welcome the Kamco team to GMS,” John Turner, president and CEO of GMS, said. “Aligned with the values of GMS, the Kamco team of respected professionals has a long tradition of providing outstanding customer service while offering a robust suite of products. Bringing Kamco into the GMS family of brands expands our share in our core products and provides geographic expansion into the highly attractive New York City market, advancing two of our key strategic priorities.”
For the calendar year 2023, Kamco generated approximately $235 million in annual revenue for its four distribution facilities and its recently opened Bronx greenfield. GMS said the Bronx location will meaningfully add to Kamco’s top-line growth as its operations mature.
GMS said in the next three years and moving forward it expects the transaction to generate both cost and revenue synergies through the integration of its distribution network and purchasing programs, cross-selling opportunities, complementary product additions to Kamco’s offerings, and SG&A savings.
GMS operates a network of over 300 distribution centers with wallboard, ceilings, steel framing, and complementary product offerings. The company also operates more than 100 tool sales, rental, and service centers.
