Home Depot's GMS Buy Unlocks New Vertical Adjacent to SRS -- Market Talk

Dow Jones07-02

1225 ET - Home Depot's acquisition of GMS gives it a new vertical that should be complementary to the SRS pro customer-facing business the company bought in June 2024, Bank of America analyst Robert Ohmes says in a research note. GMS specializes in wallboard, ceilings and steel framing, which is adjacent to SRS's existing business in roofing, landscaping and pool work, the analyst says. The two businesses should work well together given the overlap in their professional customer bases and capabilities in wholesale distribution, Ohmes says. GMS will be reporting to SRS chief Dan Tinker, who seems to be excited about the transaction, the analyst says. (dean.seal@wsj.com)

(END) Dow Jones Newswires

July 01, 2025 12:25 ET (16:25 GMT)

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