A major supplier of building materials to contractors in eastern Ontario and western Quebec has been sold to a U.S. company.
Gatineau-based D.L. Building Materials has been acquired by Gypsum Management and Supply, a publicly traded distributor of construction products headquartered in Tucker, Ga. Ottawa’s Welch Capital Partners, which acted as D.L. Building Materials’ adviser on the deal, announced the acquisition on Tuesday. Financial details of the transaction were not disclosed.
Founded in 1988, D.L. Building Materials sells drywall, insulation, power tools, doors and other construction materials. The company now has more than 100 employees and maintains offices in Gatineau and Kingston.
The company said founder Richard Davis and his family looked at several options before deciding GMS was “the right buyer” for the business.
“The combined strength will result in a positive outcome for both our employees and customers," Davis said in a statement.
The firm said it will continue to operate as a standalone business. General manager Shana Davis and other members of the senior management team will remain in their roles, while Richard Davis will act as a special adviser to the company he founded.