Birch Hill-backed Uni-Select to buy auto parts supplier Maslack

The transaction is expected to close on or about August 2, 2022.

  • Founded in 1959, Maslack Supply is family-owned and operated
  • Uni-Select trades on the Toronto Stock Exchange under the ticker symbol “UNS”
  • In 2019, Birch Hill invested an additional C$75 million in Uni-Select

Boucherville, Quebec-based Uni-Select, backed by Birch Hill Equity Partners, has agreed to acquire Sudbury, Ontario-based Maslack Supply, an automotive parts supplier. No financial terms were disclosed.

Family-owned and operated, Maslack was founded in 1959 and has grown to include 13 locations across northern Ontario and over C$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.

“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 CEO of Uni‑Select Inc.

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. It is expected to close on or about August 2, 2022.

With over 5,000 employees in Canada, the U.S. and the U.K., Uni-Select is a distributor 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 trades on the Toronto Stock Exchange under the ticker symbol “UNS.”

In Canada, Uni-Select supports over 16,000 automotive repair and collision repair shops and more than 4,000 shops through its automotive repair/installer shop banners and automotive refinish banners.

In 2019, Birch Hill invested an additional C$75 million in the company.