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BOUCHERVILLE, QUEBEC--(Marketwired - Feb 16, 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 it has completed the acquisition of substantially all of the assets of Magnuson-Hagopian Enterprises, Inc. doing business under the name Johnson Michigan Automotive & Industrial Coatings ("Johnson Michigan"). This acquisition strengthens FinishMaster's footprint in eastern and central Michigan and expands operations in the industrial segment in this market.
Founded as a hard parts distributor in 1927, Johnson Michigan moved in to automotive coatings in 1945 evolving fully in to this segment through the 1950s and 60s. For more than 80 years, teamwork has remained the foundation of their service program. Johnson Michigan's focus on service is the team's guarantee customers receive the best value and support across their locations in Battle Creek, Ferndale, and Lansing, Michigan. The majority of business is in the automotive segment, but they also have expertise in industrial and powder coatings.
"The Johnson Michigan team is dedicated to providing the best and most innovative customer support in the industry, a promise that will be strengthened as we join as one team. We will continue to drive this commitment as our team grows and we expand in new and existing markets, providing unmatched support to our customers, team members, and partners," stated Steve Arndt, President and Chief Operating Officer of FinishMaster.
"This transaction broadens our coverage in the key Michigan market and reinforces our commitment to provide the ultimate experience to all of our partners and customers," added 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 189 branches and more than 1,500 teammates in 31 states.
Uni-Select is a leader in the distribution of automotive refinish and industrial paint and related products across North America, as well as in the automotive aftermarket parts business in Canada. Its over 2,700 team members, spread across a network of 13 distribution centres and over 220 corporate stores, are dedicated to supplying its customers the right products, at the right place, and when they need them. Uni-Select also offers advanced solutions and first-rate service to enable its customers' success. In the United States, FinishMaster, Inc., a subsidiary of Uni-Select operates a network of automotive refinish corporate stores from coast to coast under the FinishMaster banner and supports more than 6,000 collision repair centre customers. Uni-Select's Canadian automotive aftermarket parts and automotive refinish business supports a growing national network of more than 1,150 independent customers and corporate stores, several of which operate under Uni-Select store banner programs including Auto Parts Plus®, Auto-Plus® and Bumper to Bumper®. In Canada, Uni-Select supports over 3,900 shops and stores through its automotive repair/installer shop banners and programs including Auto Select®, Uni-Pro®, and SAX (SelectAutoXpert), as well as through its automotive refinish banner, Carrossier ProColor®. Uni-Select is headquartered in Boucherville, Québec, 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 Financial Officer