TorQuest to sell gypsum dealer WSB Titan for $800 mln

U.S. wallboard distributor GMS Inc (NYSE: GMS) has agreed to acquire 100 percent of WSB Titan, a Toronto-based gypsum specialty dealer with key products including wallboard, insulation, lumber, roofing, steel framing and other building products. The deal is valued at about $800 million (US$627 million). The seller is Canadian private equity firm TorQuest Partners, which acquired Titan in 2016. Tucker, Georgia-based GMS said the buy will give it a leading position in Canada and the ability to pursue growth opportunities in a fragmented market. With the deal's close, expected in Q2 2018, Titan CEO Doug Skrepnek will become president of GMS Canada.

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