Uni-Select Inc.: FinishMaster Canada announces the acquisition of Spectrum Coatings
Dec 18, 2017, 16:30 ET
BOUCHERVILLE, QC, Dec. 18, 2017 /CNW Telbec/ - Uni-Select Inc. ("Uni-Select") (TSX: UNS) is pleased to announce the acquisition of substantially all the assets of T-W Pike Sales Ltd., doing business as Spectrum Coatings ("Spectrum") by FinishMaster Canada Inc. ("FinishMaster Canada"), a subsidiary of Uni-Select. Founded in 1976, Spectrum is a distributor of automotive and industrial paint operating out of Manitoba with 17 sales and service professionals active in three locations and a training centre. The three stores are respectively located in Winnipeg, Brandon and Winkler and the training centre is also located in Winnipeg.
Over the years, Spectrum has built strong customer relationships with many small, medium and large automotive and industrial companies, helping them develop into industry leaders. Spectrum's team is fully trained on the industry's best practices, which Spectrum's customers use in their shops to get the best finishes and service. This expertise, together with the high-quality products it distributes, allows Spectrum to advise its customers on how to implement the highest application and service standards.
"We are thrilled to add this experienced team to the Canadian FinishMaster family. They have developed and maintained strong partnerships with customers and are well-recognized in their markets." stated Michel Charbonneau, Vice President Sales and Marketing, PBE division, Uni-Select Canada.
"We are extremely pleased to welcome Spectrum to our growing FinishMaster and Uni-Select family in Canada. These Manitoba stores are a very nice addition to our growing corporate store network in Canada and represent an opportunity to expand the brand's presence nationally and grow in a key market." added Brent Windom, President and Chief Operating Officer, Canadian Automotive Group.
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 and in the UK. Uni‑Select is headquartered in Boucherville, Québec, Canada, and its shares are traded on the Toronto Stock Exchange (TSX) under the symbol UNS.
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 over 60 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.
In the United States, Uni-Select, through its wholly-owned subsidiary FinishMaster, Inc., operates a national network of over 210 automotive refinish corporate stores under the FINISHMASTER banner which services a network of over 30,000 customers annually, of which it is the primary supplier to over 6,000 collision repair centre customers.
In the UK and Ireland, Uni-Select, through its Parts Alliance group of subsidiaries, is a leading distributor of automotive parts supporting over 23,000 customer accounts with a network of close to 200 locations including over 170 corporate stores.
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.
SOURCE Uni-Select Inc.
For further information: Eric Bussières, Chief Financial Officer, Tel. 450 641-6958, [email protected]
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