Uni-Select announces acquisition of Maslack Supply

by | Jul 25, 2022 | 0 comments

Uni-Select Inc. announced that it has entered into a definitive agreement to acquire Maslack Supply Limited and related real estate properties, expanding its presence in Ontario.

Family-owned and operated, Maslack was founded in 1959 and has grown to include 13 locations across northern Ontario, over 200 dedicated employees, and over C$52 million dollars of revenue for its fiscal year ended January 31, 2022.

Speculation had been circulating in the aftermarket about future ownership plans for the industry following the passing of company founder John Maslack in August 2021 at the age of 95.

Following the transaction, Maslack’s core management will remain in place and will keep leading operations.

Maslack’s owners expressed their confidence in the company’s next chapter.

“We are pleased that Uni‑Select, a Canadian company built on the same entrepreneurial foundations as Maslack, is acquiring our family business and carrying on the legacy of our parents in offering excellent service to our customers throughout Ontario.

“Uni-Select emerged as the obvious buyer because of our shared customer-first approach and appreciation for employees, which are the front line of our business,” shared Betty Jane Marks and Judy Roy, the daughters of Maslack’s founder, John Maslack.

“We are very pleased to be announcing the acquisition of Maslack, the most significant acquisition for Uni-Select since we began our turnaround in Q2 of 2021,” said Brian McManus, Executive Chair and Chief Executive Officer, Uni‑Select Inc. “The transaction represents a meaningful growth avenue for the Canadian Automotive Group and is evidence of our ability to leverage our solid and improving balance sheet to make sizeable investments to grow our business.”

“We are honored to carry on the legacy of the Maslack family and happy to expand our footprint in Ontario — Canada’s largest market for automotive aftermarket products. We look forward to welcoming Maslack’s employees to leverage our combined strengths and maintain our high standards and quality of operations,” added Emilie Gaudet, President and Chief Operating Officer, Canadian Automotive Group.

Uni-Select plans to fund the transaction using amounts available under its credit facility and the transaction is expected to be immediately accretive to Uni-Select’s net earnings.

The transaction is expected to close on or about August 2, 2022, subject to customary closing conditions. Uni-Select does not expect to make any further announcement regarding the transaction.

ABOUT UNI-SELECT

With over 5,000 employees in Canada, the U.S. and the U.K., Uni-Select is a leader in the distribution of automotive refinish and industrial coatings and related products in North America, as well as a leader in the automotive aftermarket parts business in Canada and in the U.K. Uni-Select is headquartered in Boucherville, Québec, Canada, and its shares are traded on the Toronto Stock Exchange under the symbol UNS.

In Canada, Uni-Select supports over 16,000 automotive repair and collision repair shops and more than 4,000 shops through its automotive repair/installer shop banners and automotive refinish banners. Its national network includes over 1,000 independent customer locations and more than 80 company-operated stores, many of which operate under the Uni-Select BUMPER TO BUMPER®, AUTO PARTS PLUS® and FINISHMASTER® store banner programs.

In the United States, Uni-Select, through its wholly-owned subsidiary FinishMaster, Inc., operates a national network of over 145 automotive refinish company-operated stores under the FINISHMASTER banner, which supports over 30,000 customers annually.

In the U.K., Uni-Select, through GSF Car Parts, is a major distributor of automotive parts supporting over 20,000 customer accounts with a network of over 180 company-operated stores. 

www.uniselect.com

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