M&A TRANSACTION · 2025
GMS Inc. acquired by SRS Distribution (Home Depot subsidiary)
$5.50B· 10.2x EBITDA
Target
GMS Inc.
Tucker, GA
Leading distributor of specialty building products including drywall, ceilings, steel framing for residential and commercial construction
Acquirer
SRS Distribution (Home Depot subsidiary)
Strategic buyer
Disclosed financials at time of acquisition
Revenue
—
EBITDA
$539.2M
Deal Value
$5.50B
EV/EBITDA
10.2x
Context
This $5.50B acquisition of GMS Inc. by SRS Distribution (Home Depot subsidiary) sits in the wholesale distribution sub-vertical. The 10.2x EBITDA multiple paid in 2025 can be compared against the population median for wholesale distribution transactions of similar size on our Wholesale Distribution valuation hub. SRS Distribution (Home Depot subsidiary) is acquiring as a strategic buyer; see how strategic acquirers typically price wholesale distribution businesses on our Wholesale Distribution strategic buyer-pool page.
Source
Data sourced from The Home Depot Press Release — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology
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