Boucherville (Québec), December 28, 2015 – 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 entered into an agreement to purchase substantially all of the assets of ColorMaster Automotive Paint, Inc. (“ColorMaster”). This transaction, the consummation of which is subject to customary closing conditions and is expected to close within 30 days following the date hereof, will substantially increase FinishMaster’s footprint in Illinois, Missouri and Texas and will mark FinishMaster’s first branch in Louisiana.
ColorMaster opened its first location in St. Louis, Missouri in 1991. As a result of the team’s unwavering focus to build strong relationships and provide consistent support to their customers, ColorMaster has grown to 15 locations over the past two decades. The team primarily operates in the refinish segment of the aftermarket industry, but also has unique expertise in the heavy industrial market in Texas.
“The ColorMaster team built a culture centered on best in class customer service, technical support, and a commitment to do more for their customers, partners, and community. FinishMaster shares these same values and we are steadfast in our commitment to work together as a team to drive growth in new markets,” stated Steve Arndt, President and Chief Operating Officer of FinishMaster.
“This transaction is a continuation of our commitment to grow in key markets and new business segments,” 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 172 branches and more than 1,500 teammates in 29 states.
Uni-Select is a leader in the Canadian distribution of automotive products. Over 2,400 employees spread across 13 distribution centres and over 200 corporate stores are dedicated to offering advanced solutions and first-rate service to customers in order for them to benefit from a positively superior experience. Uni-Select’s strong network and proficient programs contribute to the success of countless auto service shops and collision centres as well as more than 1,155 independent wholesalers in North America. Its Canadian banner programs made up of Auto Parts Plus®, Auto-Plus®, Bumper to Bumper®, Auto Select®, Uni-Pro®, SAX and Carrossier ProColor® regroup over 3,900 shops and stores. Uni-Select is headquartered in Boucherville 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.
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Louis Juneau | Chief Legal Officer and Corporate Secretary
Tel. 450 641-6922 | email@example.com