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Expands presence to a 30th state, adding 15 new locations across four States and strengthening footprint in heavy industrial market in Texas
BOUCHERVILLE, QUEBEC--(Marketwired - Jan 4, 2016) - FinishMaster, Inc., a leading distributor of paint and related products in the United States and subsidiary of Uni-Select Inc. (TSX:UNS), a leading distributor of automotive products in Canada, announced today that it has completed the acquisition of substantially all of the assets of ColorMaster Automotive Paint, Inc. This transaction was initially announced on December 28, 2015 and its consummation was subject to certain customary closing conditions, all of which have been satisfied on this date.
"We are happy to welcome more than 76 new team members to the FinishMaster family. Our combined efforts will accelerate growth in new geographic areas and maximize our service, product, and technical support to new and existing customers," stated Steve Arndt, President and Chief Operating Officer, FinishMaster.
"This acquisition of a leading regional player in the automotive refinish sector is a key strategic addition to our portfolio," said Henry Buckley, President and Chief Executive Officer of Uni-Select.
ABOUT FINISHMASTER AND UNI-SELECT
FinishMaster, a subsidiary of Uni‐Select, is the leading national independent distributor of automotive paints, coatings and related accessories in the United States. FinishMaster operates three major distribution centres with 187 branches and more than 1,600 teammates in 30 states.
Uni-Select is a North American leader in the distribution of automotive refinish and industrial paint and related products and is a leader in the Canadian automotive aftermarket parts business. Over 2,700 team members in North America are spread across 13 distribution centers and over 220 corporate stores. We are dedicated to supplying our customers the right products, at the right place when they need them. Uni-Select also offers advanced solutions and first-rate service to help enable its customers success. In the USA, FinishMaster, Inc. operates a network of automotive refinish corporate stores from coast to coast under the FinishMaster store banner and supports more than 6,000 collision repair center customers. The Canadian automotive aftermarket parts and automotive refinish business supports a growing national network of more than 1,150 independent customers and corporate stores, some of which operate under Uni-Select store banner programs including Auto Parts Plus®, Auto-Plus® and Bumper to Bumper®. Our Canadian automotive repair/installer shop banners include, Auto Select®, Uni-Pro®, SAX (SelectAutoXxpert) and our Canadian automotive refinish banner is Carrossier ProColor® collectively supporting over 3,900 shops and stores. Uni-Select is headquartered in Boucherville, Quebec, Canada and its shares are traded on the Toronto Stock Exchange (TSX) under the symbol UNS.
The information provided in this press release may include some forward-looking information, which could include certain risks and uncertainties, which may cause the final results to be significantly different from those listed or implied within this news release. Such risks and uncertainties may include, for example, the impact of the transaction on the business of Uni-Select as a whole and certain strategic benefits expected to result from the transaction. For additional information with respect to risks and uncertainties, refer to the Annual Report filed by Uni-Select with the Canadian securities commissions. The forward-looking information contained herein is made as of the date of this press release, and Uni-Select does not undertake to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws.
Chief Legal Officer and Corporate Secretary