Uni-Select is acquiring a major aftermarket player in northern Ontario.
The Boucherville, Quebec-based company announced this week that it has entered into a definitive agreement to acquire Maslack Supply Limited, plus its related real properties.
Maslack, the Jobber of the Year in 1994-95, has 13 locations across northern Ontario, a 70,000 sq. ft. distribution centre and more than 200 employees. Uni-Select’s announcement noted that Maslack reported $52 million dollars of revenue for its fiscal year that ended January 31, 2022.
Maslack Supply held its 60th Anniversary Trade Show in 2018
The core management of Maslack will remain in place following the deal, Uni-Select said.
The deal comes almost a year after the passing of its founder, John Maslack. He founded Maslack Supply in 1959 with three employees and a 500 sq. ft. building.
“We are pleased that Uni-Select, a Canadian company built on the same entrepreneurial foundations as Maslack, is acquiring our family business and carrying on the legacy of our parents in offering excellent service to our customers throughout Ontario,” said Betty Jane Marks and Judy Roy, John’s daughters, in the announcement. “Uni-Select emerged as the obvious buyer because of our shared customer-first approach and appreciation for employees, which are the front line of our business.”
The deal represents the biggest significant acquisition for Uni-Select since the company began its turnaround in the second quarter of 2021, observed Brian McManus, executive chair and chief executive officer, Uni-Select Inc.
“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,” he said.
“We are honoured to carry on the legacy of the Maslack family and happy to expand our footprint in Ontario — Canada’s largest market for automotive aftermarket products,” Emilie Gaudet, president and chief operating officer of the Canadian Automotive Group, added in the announcement. “We look forward to welcoming Maslack’s employees to leverage our combined strengths and maintain our high standards and quality of operations.”