GMS Inc. (NYSE:GMS) is looking for M&A opportunities. During Fourth Quarter 2024 Earnings Conference Call John Turner President and Chief Executive Officer said, "Our Complementary Products grew this past year by 7.4%. And in our key areas of focus, EIFS and Stucco, Tools & Fasteners and Insulation, we grew 11.5%.

These outstanding results are due in many respects to those same things driving our core share, but are also due to our expanded sales organization, center-led purchasing programs and the synergistic leveraging of acquired company expertise across the legacy business, while the newly acquired businesses benefits from GMS' systems and scale. We remain committed to both organic and acquisitive growth in the strategically critical complementary product space. M&A has been and continues to be a key strategic driver of our growth.

This past year was no exception as we acquired Home Lumber & Building Supplies which expanded our presence and complementary product offerings in Western Canada; AMW Construction Supply, which expanded our complementary tools and fasteners in Phoenix, Arizona; and Kamco Supply Corporation, which provided us with one of the leading market positions in New York City, the largest MSA, where we lacked a significant presence prior to this transaction. Also, subsequent to the end of our fiscal year, we announced a smaller acquisition of Howard & Sons to supplement our operations in Southern California; and our agreement to purchase Yvon Building Supplies and other affiliated companies in Ontario, Canada, which we expect to close next month. We look forward to being able to welcome the Yvon team and adding their seven locations to our portfolio to better serve the Ontario market.

Our current Canadian operations generated approximately 13% of our total net sales during fiscal 2024, and of that, more than half of those sales were in Complementary Products, which tend to be margin-accretive to the overall business. In addition to our more traditional acquisition targets in the United States, with substantial white space still available for us in Canada, we expect to continue to pursue additional margin-enhancing opportunities like the pending Yvon transaction". Scott Deakin, Senior Vice President and Chief Financial Officer said "Looking forward, we expect to continue our balanced approach of capital allocation with continued investment in our business and attractive M&A opportunities while also seeking to opportunistically return value to our shareholders through our share buyback program.

We have a solid balance sheet with no near-term maturities and in an attractive capital structure, providing an effective foundation for the continued execution of our strategic priorities".