LKQ Corp., parent company of NTP-STAG, will be acquiring Canada-based Uni-Select Inc., a leading distributor of automotive refinish and industrial coatings and related products in North America through its FinishMaster segment and in the automotive aftermarket parts business in Canada through its Canadian Automotive Group segment and in the U.K. through its GSF Car Parts segment.
Uni-Select has more than 5,200 employees, 15 distribution centers and 400-plus branches, and through them supports more than 70,000 customers annually across the U.S., Canada and the U.K.
Uni-Select shareholders will receive the equivalent of about $35 U.S. per share, making the whole transaction worth approximately $2.06 billion in U.S. dollars.
“This acquisition further enhances LKQ’s global automotive vehicle parts distribution business,” said Dominick Zarcone, president and CEO of LKQ Corporation. “Uni-Select’s North American automotive refinish paint and mechanical parts distribution operations complement LKQ’s existing footprint and will allow us to distribute a broader array of products to our customers. We look forward to welcoming Uni-Select’s employees to the LKQ team. Importantly, we believe that our combined efforts will create tremendous long-term value for our customers, shareholders, employees, and other stakeholders as we continue to focus on our operational excellence initiatives.
“We are also pleased that the acquisition will allow LKQ to build a significant presence in Québec, including Uni-Select’s Boucherville, Québec head office, expanding upon LKQ’s already existing business operations in that province.”