Home Improvement Retail Giant, The Home Depot, Successfully Finalizes $5.5 Billion Acquisition of GMS with the Assistance of its North Texas Affiliate, SRS Distribution.

The Home Depot Expands Its Reach with GMS Acquisition

The Home Depot, the world's largest home improvement specialty retailer, has made a significant move to strengthen its position in the building materials distribution sector. The company, led by Ted Decker as Chair, President, and CEO, has completed the acquisition of GMS Inc. for approximately $5.5 billion.

GMS Inc., a leading distributor of specialty building products for remodeling and construction projects in residential and commercial end markets, operates a network of more than 300 distribution centers with extensive product offerings of wallboard, ceilings, steel framing, and complementary products. Founded in 1971 and headquartered in Tucker, Georgia, GMS employs more than 4,000 associates and also operates nearly 100 tool sales, rental, and service centers across the United States and Canada.

Decker stated that the addition of GMS further enhances SRS Distribution's position as a leading multi-category building materials distributor. SRS Distribution, a wholly owned subsidiary of The Home Depot, operates under a family of distinct local brands encompassing over 800 locations across 48 states. The combination of GMS and SRS Distribution will serve the residential and commercial pro market more holistically, offering more fulfillment and service options.

The Home Depot aims to grow its share of wallet with professional contractors and is building differentiated offerings and capabilities to better serve pros across their entire project. The deal between The Home Depot and GMS Inc. was first announced on June 30.

Meanwhile, other notable developments in the industry are taking place. Lennox International is expanding its North Texas footprint with a new "showcase space" at its Richardson HQ, a new regional distribution center near DFW Airport, and a huge national distribution center being built near Fort Worth.

Additionally, The Building Brains Coalition, a new initiative by Dallas-based HKS, aims to advance 'brain-healthy' buildings and cities. The coalition includes founding partners such as HKS, The Center for BrainHealth, Center for Advanced Design Research and Evaluation (CADRE), the Brain Capital Alliance, and Rice University's Baker Institute Neuro-Policy Program.

In a separate development, the U.S. Navy has partnered with Southlake-based Learning Blade to teach submarine-building skills in schools to address a critical workforce shortage in the industry.

Lastly, U.S. Property Development, a new firm with headquarters in Fort Worth Stockyards, has been involved in over $50 million in projects over the past 18 months.

With these strategic moves, the home improvement and building materials sectors continue to evolve, responding to the changing needs of both consumers and professionals.