Transactions With Related Parties

12 Months Ended

Apr. 30, 2017

Transactions With Related Parties

Transactions With Related Parties

13. Transactions With Related Parties

         The Company leases office and warehouse facilities from partnerships owned by certain stockholders of GMS Inc. and its subsidiaries. At April 30, 2017, these leases had expiration dates through fiscal 2021. Rent expense related to these leases included in the accompanying Consolidated Financial Statements approximated $780, $628, and $903 for fiscal 2017, 2016, and 2015, respectively, and are recorded in "Selling, general and administrative" expenses. At April 30, 2017, future minimum payments under the terms of the leases aggregated to $1,105.

         The Company purchases inventories from its former subsidiary, Southern Wall Products, Inc. ("SWP"), on a continuing basis. Certain stockholders of the Company are stockholders of SWP, which was spun-off from Gypsum Management and Supply, Inc. on August 31, 2012. The Company purchased inventory from SWP for distribution in the amount of $12,990, $12,795, and $11,926 as of April 30, 2017, 2016, and 2015, respectively. Amounts due to SWP for purchases of inventory for distribution as of April 30, 2017 and 2016 were $1,091 and $1,097, respectively, and are included in "Accounts payable".

         Prior to the Company's IPO, we had a management agreement in place with AEA Investors LP. The agreement required the Company to pay AEA an annual management fee of $2,250 per year following the Acquisition for advisory and consulting services. The fee was payable in quarterly installments of $563 in advance of the upcoming calendar quarter on the first day, and is included in "Selling, general and administrative" expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss).