TorQuest completes sale of WSB Titan to GMS

On June 4, 2018, TorQuest Partners, management and co-investors announced the successful completion of the previously announced sale of WSB Titan ("Titan") to GMS Inc. ("GMS").

Under the terms of agreement announced on April 5, 2018, GMS acquired 100% of the equity interests of WSB Titan for a total consideration of approximately US$627 million (C$800 million) from Titan's current management and TorQuest Partners.

WSB Titan is Canada's leading independent building supplies dealer.

GMS is a leading North American distributor of gypsum wallboard and suspended ceiling systems, operating a network of more than 210 distribution centers across the United States.

TorQuest Partners is a Canadian-based manager of private equity funds, with more than C$2 billion of equity capital under management.

Further information can be found on Canada Newswire's website.