|By Marketwired .||
|February 17, 2014 03:46 PM EST||
BOUCHERVILLE, QUEBEC -- (Marketwired) -- 02/17/14 -- Uni-Select Inc. (TSX: UNS), a major distributor of replacement parts and paint products for motor vehicles in North America, announced that, today, its subsidiary FinishMaster, Inc. completed the acquisition of the assets of Metro Paint Supplies Group, which includes the assets of Metro Paint Supplies, Inc., Midwest Refinishings Supply, Inc. and Automotive Coatings & Equipment LLC. This acquisition will increase FinishMaster's presence in both the Chicago and Colorado markets.
The Metro Paint Supplies Group has served automotive and industrial customers in the Midwest since 1951, operating 3 stores and 1 warehouse in the Chicago Metropolitan area, Illinois and additional stores in Denver and in Colorado Springs, Colorado. Combining the experience of the Metro Paint Supplies Group and FinishMaster will strengthen the team's ability to better serve customers. This transaction will also broaden FinishMaster's product offering in Colorado through gained distribution rights of additional product lines.
"We are pleased to welcome the Metro Paint Supplies Group to FinishMaster. This team has a strong tradition of providing great value to their customers, and that tradition will continue after the acquisition. We are proud to continue the legacy that Bill Weiss started over 25 years ago and are fortunate to add talented, experienced people to the FinishMaster team," stated Steve Arndt, President and Chief Operating Officer, FinishMaster. "This acquisition will bring value in additional products and services available to our customers' and strengthen FinishMaster's leading position in the distribution of automotive paints, coatings and related accessories in the United States," continued Mr. Arndt.
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. Headquartered in Indianapolis, Indiana, FinishMaster operates three major distribution centers with 167 branches and more than 1,400 teammates in 28 states.
Founded in 1968, Uni-Select is a major distributor of replacement parts, equipment, tools, accessories, paint and related products for motor vehicles in North America. Leader in the Canadian industry, Uni-Select is the 5th largest distributor in the United States and the leading independent distributor of automotive paint and related products in the country. With its 5,500 employees, Uni-Select efficiently services a wide network of independent installers and wholesalers, including over 6,600 that operate under one of its banner programs in North America. 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. 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.
Investor Relations and Communications Manager