0001193125-20-297002.txt : 20201118 0001193125-20-297002.hdr.sgml : 20201118 20201118163652 ACCESSION NUMBER: 0001193125-20-297002 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20201118 DATE AS OF CHANGE: 20201118 GROUP MEMBERS: ADAM GRAY GROUP MEMBERS: CHRISTOPHER SHACKELTON GROUP MEMBERS: COLISEUM CAPITAL PARTNERS, L.P. GROUP MEMBERS: COLISEUM CAPITAL, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GMS Inc. CENTRAL INDEX KEY: 0001600438 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS [5030] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-89877 FILM NUMBER: 201325549 BUSINESS ADDRESS: STREET 1: 100 CRESCENT CENTRE PARKWAY STREET 2: SUITE 800 CITY: TUCKER STATE: GA ZIP: 30084 BUSINESS PHONE: 800-392-4619 MAIL ADDRESS: STREET 1: 100 CRESCENT CENTRE PARKWAY STREET 2: SUITE 800 CITY: TUCKER STATE: GA ZIP: 30084 FORMER COMPANY: FORMER CONFORMED NAME: GYP Holdings I Corp. DATE OF NAME CHANGE: 20140218 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Coliseum Capital Management, LLC CENTRAL INDEX KEY: 0001409751 IRS NUMBER: 223918079 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 105 ROWAYTON AVENUE CITY: ROWAYTON STATE: CT ZIP: 06853 BUSINESS PHONE: 203-883-0100 MAIL ADDRESS: STREET 1: 105 ROWAYTON AVENUE CITY: ROWAYTON STATE: CT ZIP: 06853 SC 13D/A 1 d22053dsc13da.htm SC 13D/A SC 13D/A

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

 

 

GMS INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

36251C103

(CUSIP Number)

Christopher Shackelton/Adam Gray

105 Rowayton Avenue

Rowayton, CT 06853

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

November 16, 2020

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §240.13d-1(e), §240.13d-1(f) or §240.13d-1(g), check the following box. ☐

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

CUSIP No. 36251C103

 

  1.   

Names of reporting persons.

 

Coliseum Capital Management, LLC

  2.  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  3.  

SEC use only

 

  4.  

Source of funds (see instructions)

 

AF

  5.    

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

☐

  6.  

Citizenship or place of organization

 

Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

 

      7.    

Sole voting power

 

0

     8.     

Shared voting power

 

3,252,075

     9.   

Sole dispositive power

 

0

   10.   

Shared dispositive power

 

3,252,075

11.  

Aggregate amount beneficially owned by each reporting person

 

3,252,075

12.    

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

13.  

Percent of class represented by amount in Row (11)

 

7.6%

14.  

Type of reporting person (see instructions)

 

IA

 

Page 2 of 10

CUSIP No. 36251C103

 

  1.   

Names of reporting persons.

 

Coliseum Capital, LLC

  2.  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  3.  

SEC use only

 

  4.  

Source of funds (see instructions)

 

AF

  5.    

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

☐

  6.  

Citizenship or place of organization

 

Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

 

      7.    

Sole voting power

 

0

     8.     

Shared voting power

 

2,452,665

     9.   

Sole dispositive power

 

0

   10.   

Shared dispositive power

 

2,452,665

11.  

Aggregate amount beneficially owned by each reporting person

 

2,452,665

12.    

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

13.  

Percent of class represented by amount in Row (11)

 

5.7%

14.  

Type of reporting person (see instructions)

 

OO

 

Page 3 of 10

CUSIP No. 36251C103

 

  1.   

Names of reporting persons.

 

Coliseum Capital Partners, L.P.

  2.  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  3.  

SEC use only

 

  4.  

Source of funds (see instructions)

 

WC

  5.    

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

☐

  6.  

Citizenship or place of organization

 

Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with

 

      7.    

Sole voting power

 

0

     8.     

Shared voting power

 

2,452,665

     9.   

Sole dispositive power

 

0

   10.   

Shared dispositive power

 

2,452,665

11.  

Aggregate amount beneficially owned by each reporting person

 

2,452,665

12.    

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

13.  

Percent of class represented by amount in Row (11)

 

5.7%

14.  

Type of reporting person (see instructions)

 

PN

 

Page 4 of 10

CUSIP No. 36251C103

 

  1.   

Names of reporting persons.

 

Adam Gray

  2.  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  3.  

SEC use only

 

  4.  

Source of funds (see instructions)

 

AF

  5.    

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

☐

  6.  

Citizenship or place of organization

 

United States

Number of

shares

beneficially

owned by

each

reporting

person

with

 

      7.    

Sole voting power

 

0

     8.     

Shared voting power

 

3,252,075

     9.   

Sole dispositive power

 

0

   10.   

Shared dispositive power

 

3,252,075

11.  

Aggregate amount beneficially owned by each reporting person

 

3,252,075

12.    

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

13.  

Percent of class represented by amount in Row (11)

 

7.6%

14.  

Type of reporting person (see instructions)

 

IN

 

Page 5 of 10

CUSIP No. 36251C103

 

  1.   

Names of reporting persons.

 

Christopher Shackelton

  2.  

Check the appropriate box if a member of a group (see instructions)

(a)  ☐        (b)  ☒

 

  3.  

SEC use only

 

  4.  

Source of funds (see instructions)

 

AF

  5.    

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

☐

  6.  

Citizenship or place of organization

 

United States

Number of

shares

beneficially

owned by

each

reporting

person

with

 

      7.    

Sole voting power

 

0

     8.     

Shared voting power

 

3,252,075

     9.   

Sole dispositive power

 

0

   10.   

Shared dispositive power

 

3,252,075

11.  

Aggregate amount beneficially owned by each reporting person

 

3,252,075

12.    

Check if the aggregate amount in Row (11) excludes certain shares (see instructions)

 

☐

13.  

Percent of class represented by amount in Row (11)

 

7.6%

14.  

Type of reporting person (see instructions)

 

IN

 

Page 6 of 10

CUSIP No. 36251C103

 

Explanatory Note: This Amendment No. 1 (this “Amendment”) to the Schedule 13D (the “Initial 13D”) relating to GMS Inc. (the “Issuer”), filed by the Reporting Persons with the Securities and Exchange Commission on November 9, 2020, amends and supplements certain of the items set forth therein.

As used in this Amendment, the term “Reporting Persons” collectively refers to:

 

  •  

Coliseum Capital Management, LLC, a Delaware limited liability company (“CCM”);

 

  •  

Coliseum Capital, LLC, a Delaware limited liability company (“CC”);

 

  •  

Coliseum Capital Partners, L.P., a Delaware limited partnership (“CCP”);

 

  •  

Adam Gray (“Gray”); and

 

  •  

Christopher Shackelton (“Shackelton”).

Item 3. Source and Amount of Funds or Other Consideration.

Item 3 is hereby supplemented as follows:

The source and amount of funds used in purchasing the Common Stock by the Reporting Persons and a separate account investment advisory client of CCM (the “Separate Account”) were as follows:

 

Purchaser

    Source of Funds    Amount  

CCP

    Working Capital    $ 22,918,572.81  

Separate Account

    Working Capital    $ 7,517,734.92  

Item 5. Interest in Securities of the Issuer.

Item 5 is hereby amended and supplemented as follows:

(a) – (b) The information relating to the beneficial ownership of Common Stock by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated by reference herein. The percentages set forth in Row 13 of all the cover pages filed herewith are calculated based upon 42,735,602 shares of Common Stock outstanding as of August 31, 2020, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on September 3, 2020.

 

(c)

The Reporting Persons effected the following transactions in the Common Stock on the dates indicated and such transactions are the only transactions in the Common Stock by the Reporting Persons in the sixty (60) days preceding the date of this Amendment, or since the most recent filing of Schedule 13D by the Reporting Persons, whichever is less.

 


Name

   

Purchase or Sale

    Date      Number of
Shares		      Weighted
Average
Price Per
Share		     

Range of Prices

CCP

   

Open Market Purchase

      11/9/2020        53,819      $ 26.3369      $25.80 - $26.50  

Separate Account

   

Open Market Purchase

      11/9/2020        18,053      $ 26.3369      $25.80 - $26.50  

CCP

   

Open Market Purchase

      11/16/2020        9,712      $ 29.6397      $29.48 - $30.47  

Separate Account

   

Open Market Purchase

      11/16/2020        3,188      $ 29.6397      $29.48 - $30.47  

CCP

   

Open Market Purchase

      11/16/2020        7,455      $ 30.7722      $30.48 - $31.47  

Separate Account

   

Open Market Purchase

      11/16/2020        2,447      $ 30.7722      $30.48 - $31.47  

CCP

   

Open Market Purchase

      11/16/2020        15,530      $ 31.8505      $31.50 - $32.49  

Separate Account

   

Open Market Purchase

      11/16/2020        5,099      $ 31.8505      $31.50 - $32.49  

CCP

   

Open Market Purchase

      11/16/2020        43,773      $ 33.1375      $32.50 - $33.49  

Separate Account

   

Open Market Purchase

      11/16/2020        14,371      $ 33.1375      $32.50 - $33.49  

CCP

   

Open Market Purchase

      11/16/2020        313,500      $ 33.9294      $33.50 - $34.00  

Separate Account

   

Open Market Purchase

      11/16/2020        102,925      $ 33.9294      $33.50 - $34.00  

CCP

   

Open Market Purchase

      11/17/2020        16,888      $ 30.6658      $30.24 - $31.12  

Separate Account

   

Open Market Purchase

      11/17/2020        5,492      $ 30.6658      $30.24 - $31.12  

CCP

   

Open Market Purchase

      11/17/2020        117,226      $ 31.8720      $31.40 - $32.00  

Separate Account

   

Open Market Purchase

      11/17/2020        38,127      $ 31.8720      $31.40 - $32.00  

CCP

   

Open Market Purchase

      11/18/2020        128,612      $ 32.2500      $32.25 - $32.25  

Separate Account

   

Open Market Purchase

      11/18/2020        42,111      $
 32.2500
  
    $32.25 - $32.25  

(d)

Except as set forth in Item 6 hereof, no person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock reported herein.

 

(e)

Not applicable.

The information in Item 6 hereof is incorporated by reference herein.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

Item 6 is hereby amended and supplemented as follows:

CCM is an investment adviser whose clients, including CCP and the Separate Account, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock. CC is the general partner of CCP. Gray and Shackelton are the managers of CC and CCM.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

DATED: November 18, 2020

 

COLISEUM CAPITAL MANAGEMENT, LLC     CHRISTOPHER SHACKELTON
By:  

/s/ Chivonne Cassar

     By:  

/s/ Chivonne Cassar

  Chivonne Cassar, Attorney-in-fact       Chivonne Cassar, Attorney-in-fact
COLISEUM CAPITAL, LLC     ADAM GRAY
By:  

/s/ Chivonne Cassar

     By:  

/s/ Chivonne Cassar

  Chivonne Cassar, Attorney-in-fact       Chivonne Cassar, Attorney-in-fact
COLISEUM CAPITAL PARTNERS, L.P.      
By:   Coliseum Capital, LLC, General Partner      
By:  

/s/ Chivonne Cassar

      
  Chivonne Cassar, Attorney-in-fact