Uni-Select acquires Maslack Supply Ltd.
by CM Staff
The company also expects the transaction will be immediately accretive to Uni-Select's net earnings.
BOUCHERVILLE — Uni-Select Inc. has entered into a definitive agreement to acquire Maslack Supply Limited and related real properties, a move the company says will help expand its presence in Ontario.
Maslack has been operating for over 60 years and has grown to include 13 locations across northern Ontario and over 200 dedicated employees. The company says that its core management team will continue to lead operations after the acquisition.
“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,” said Brian McManus, executive chair and chief executive officer, Uni‑Select Inc. in a statement.
Uni-Select says it plans to fund the transaction using funds from its credit facility. The company also expects the transaction will be immediately accretive to Uni-Select’s net earnings. Additionally, the parties involved anticipate this transaction will close at the beginning of August subject to customary closing conditions.