North America. LKQ Corp. and Uni-Select have entered into a definitive agreement for LKQ to acquire all issued and outstanding shares of Uni-Select .
Founded in Boucherville, Québec, Canada, in 1968, Uni-Select is a leader in the distribution of automotive finishes and industrial coatings and related products in North America through its FinishMaster segment, in the automotive parts business in Canada through Canadian Automotive Group and in the United Kingdom through its GSF Car Parts segment.
With more than 5,200 employees, 15 distribution centers and more than 400 branches, Uni-Select supports more than 70,000 customers annually in the United States, Canada and the United Kingdom.
"This acquisition further enhances LKQ's global motor vehicle parts distribution business," said LKQ President and CEO Dominick Zarcone.
"Uni-Select's automotive refinish paint and mechanical parts distribution operations in North America complement LKQ's existing footprint and will allow us to distribute a wider range of products to our customers. We look forward to welcoming Uni-Select employees to the LKQ team," added Zarcone.
"Importantly, we believe 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."
Zarcone noted, "We are also pleased that the acquisition allows LKQ to build a significant presence in Québec, including Uni-Select's headquarters in Boucherville, Québec, expanding LKQ's existing business operations in that province."
Brian McManus, Executive Chairman and Chief Executive Officer of Uni-Select, commented, "The transaction delivers compelling value and liquidity to our shareholders and is the culmination of our dedicated team's efforts to improve our operations and drive efficiency with a focus on excellent customer service."
