Uni-Select Inc. announced Aug. 7 that it completed the acquisition of all shares of PA Topco Limited doing business as The 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 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 CEO 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 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 CEO of The Parts Alliance. He joined Uni-Select’s executive team as President and CEO of the European Automotive Group.
The transaction provides Uni-Select with a 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 U.S. With the addition of The Parts Alliance, Uni-Select now has a team of more than 6,000 team members, spread across a network of 16 distribution centers and more than 430 corporate stores located in North America, United Kingdom and Ireland.
About Uni-Select
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 more than 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 more than 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 that services a network of more than 30,000 customers annually, of which it is the primary supplier to more than 6,000 collision repair center customers. Uni-Select is headquartered in Boucherville, Québec, Canada, and its shares are traded on the Toronto Stock Exchange under the symbol UNS.
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