Boucherville (Québec), August 7, 2017 – Uni-Select Inc. (“Uni-Select” or “Corporation”; TSX:UNS) is pleased to announce that it has today completed the acquisition of 100% of the shares of PA Topco Limited doing business as The Parts Alliance (“Parts Alliance”), the second largest nationwide independent distributor of automotive aftermarket parts in the United Kingdom.
As previously announced, the transaction in the amount of £205.0 million was fully funded with debt from available credit facilities.
“We could not be more pleased to be adding The Parts Alliance to the Uni-Select family. This is an exciting new growth pillar for Uni-Select in the large and fragmented UK marketplace. The Parts Alliance is the UK’s second largest automotive aftermarket parts distributor with 161 locations and growing plus affiliated members, all serving local and national customers across the UK,” said Henry Buckley, President and Chief Executive Officer of Uni-Select. “We welcome all our new team members, customers and suppliers. The cultural fit is exceptional and the growth prospects are significant,’’ added Mr. Buckley.
“The Parts Alliance is very thrilled to now be part of Uni-Select. All of my colleagues in our organization, our suppliers, members and all other stakeholders see the opportunity for long term financial growth and stability, as well as personal growth as we join a team of like-minded individuals,” said Peter Sephton, President and Chief Executive Officer of The Parts Alliance.
The Corporation is also delighted to welcome Mr. Peter Sephton who is today joining Uni Select’s Executive Team as President and Chief Executive Officer of the European Automotive Group.
The transaction provides Uni-Select with an attractive point of entry into a new geographic market currently in consolidation with high growth and accretion potential and a third growth pillar to complement its segments, Canadian Automotive Group and FinishMaster US. With the addition of The Parts Alliance, Uni-Select now has a strong team of over 6,000 dedicated team members, spread across a network of 16 distribution centres and over 430 corporate stores located in North America, United Kingdom and Ireland.
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. In the United States, Uni-Select, through its wholly-owned subsidiary FinishMaster, Inc., operates a national network of 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. Uni-Select is headquartered in Boucherville, Québec, Canada, and its shares are traded on the Toronto Stock Exchange (TSX) under the symbol UNS.
ABOUT THE PARTS ALLIANCE
The Parts Alliance is one of the leading groups of automotive parts distributors throughout the United Kingdom and Ireland. The group has a network of close to 200 locations including 161 corporate stores and supports over 23,000 customer accounts.
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.