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Gladstone Place Partners represents QXO Inc. as the nation’s biggest publicly traded distributor of specialty building products launches a $5B takeover offer for Gypsum Management & Supply, which uses Joele Frank for strategic communications matters.
QXO says its $95.20 per-share offer represents a 27 percent premium over GMS's 60-day average trading price.
The all-cash offer delivers an immediate and certain value to GMS shareholders at a meaningful premium, said Brad Jacobs, CEO of QXO.
In his letter to GMS CEO John Turner, Jacobs warned: “We don’t play games.” He threatened to take the offer directly to GMS stockholders, if Turner fails to engage with QXO by June 24 or “engages in an unconstructive manner.”
GMS, which operates 320 building supply distribution centers, has confirmed that it received QXO’s unsolicited bid and promises to review the offer.
Meanwhile Home Depot reportedly may make an offer for GMS, which registered $5.5B revenues and $115M profit for fiscal 2025 ended April.
Gladstone Place Partners’ Steve Lipin and Lauren Odell represent QXO, while Joele Frank, Wilkinson Brimmer Katcher has Matt Sherman and Leigh Parrish working for GMS.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
Joele Frank handles C.H. Robinson Worldwide as the freight transportation company acquires RXO Inc. in a stock and cash transaction pegged at $5.8B to create a company with an enterprise value of more than $25B.
Brunswick Group handles France’s Schneider Electric as it acquires Boston’s PTC, maker of engineering software, for $22.6B cash.
