- Uni-Select (UNS) has signed a definitive agreement to acquire Maslack Supply Limited
- Maslack has 13 locations across northern Ontario and reported over $52 million dollars of revenue for its fiscal year ended January 31, 2022
- Uni-Select plans to fund the transaction using amounts available under its credit facility
- The transaction is expected to close on or about August 2, 2022
- Uni-Select Inc. (UNS) is up 0.34 per cent on the day, trading at C$35.72 per share at 12:45 pm ET
Uni-Select (UNS) has signed a definitive agreement to acquire Maslack Supply Limited, expanding its presence in Ontario.
Maslack was founded in 1959 and has grown to include 13 locations across northern Ontario, over 200 dedicated employees, and over $52 million dollars of revenue for its fiscal year ended January 31, 2022. Following the transaction, Maslack’s core management will remain in place and will keep leading operations.
Brian McManus, Executive Chair and Chief Executive Officer, Uni‑Select Inc., commented on the news.
“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. 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.”
Emilie Gaudet, President and Chief Operating Officer, Canadian Automotive Group, added,
“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.”
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.
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 Inc. (UNS) is up 0.34 per cent on the day, trading at C$35.72 per share at 12:45 pm ET.