BOUCHERVILLE, QUÉBEC–(Marketwired – Feb. 28, 2017) – FinishMaster, Inc. (“FinishMaster”), a wholly-owned subsidiary of Uni-Select Inc. (“Uni-Select”) (TSX:UNS), announced today it has completed the acquisition of substantially all of the assets of Hi-Tec/Professional Paint and Auto Body Supply, Inc. (“Hi-Tec”). This acquisition marks FinishMaster’s first two locations in the state of Alaska in Anchorage and Fairbanks.
Over the past 27 years Hi-Tec has gained a reputation for outstanding service. The team’s knowledge of products and application is unmatched in their market and they have built long-term partnerships with body shops because of their attention to detail and commitment to quality. With the addition of Alaska, FinishMaster is now located in 33 states and has 222 branches.
“We are excited to join forces with a team who shares our commitment to collaborate with customers and build partnerships through exceptional service. The ability to reach customers in Alaska is an exciting new opportunity for us, and we know by combining existing expertise with our national network of resources we are going to continue to appeal to the customers there,” stated Steve Arndt, President and Chief Operating Officer of FinishMaster. “The team at Hi-Tec lives the same core values as our FinishMaster team nationwide and will very quickly become a part of our family. We are thrilled to have them on our team.”
“This acquisition aligns with our strategic plan to grow in key markets and signifies a major milestone in our history with the first two locations in Alaska. We look forward to continued growth in this new market as well as in existing ones,” added Henry Buckley, President and Chief Executive Officer of Uni-Select.
Uni-Select is a leader in the distribution of automotive refinish and industrial paint and related products in North America, as well as a leader in the automotive aftermarket parts business in Canada. In Canada, Uni-Select supports over 16,000 automotive repair and collision repair shops through a growing national network of more than 1,100 independent customers and corporate stores, many of which operate under the Uni-Select BUMPER TO BUMPER®, AUTO PARTS PLUS® AND FINISHMASTER® store banner programs. It also supports over 3,900 shops and stores through its automotive repair/installer shop banners, as well as through its automotive refinish banners. Uni-Select is headquartered in Boucherville, Québec, Canada, and its shares are traded on the Toronto Stock Exchange (TSX) under the symbol UNS.
FinishMaster, Inc., a wholly-owned subsidiary of Uni-Select, is the leading national independent distributor of automotive paints, coatings and related accessories in the United States. It operates a national network of automotive refinish corporate stores under the FINISHMASTER banner and supports more than 6,000 collision repair centre customers.
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