In our latest issue yesterday of our PRO Dealer Business e-newsletter, we wrote an article headlined “American private equity consolidates grip on Canadian GSDs.”
In that article, we wrote about Gypsum Management and Supply Inc., of Tucker, Ga., and its recent acquisitions. We implied that GMS Inc. is “backed” by private equity money. In actual fact, GMS Inc. has operated as a publicly-traded company since 2017.
Furthermore, we omitted from our reportage that Titan GMS Canada Inc. is a wholly-owned Canadian subsidiary that is headquartered in Vaughan, Ont. GMS Canada has 43 points of sale in Canada, from British Columbia to Quebec, employing more than 1,450 Canadians.
We also referred to GMS’s acquisition in 2018 of WSB Titan, a Canadian GSD buying group, with GMS “acquiring two-thirds” of the group. GMS, in fact, acquired WSB Titan entirely with one associated member in Quebec.
Hardlines regrets the errors, which implied that GMS is a private-equity-funded American operation. GMS Canada Inc. is a Canadian firm serving its Canadian customers.
