Québec-based Uni-Select, Canada’s largest supplier of automotive refinish, industrial paint and more than two million replacement parts in the auto industry, is being purchased by U.S.-based LKQ Corporation for approximately $2.8 billion in cash.
Québec-based Uni-Select, Canada’s largest supplier of automotive refinish, industrial paint and more than two million replacement parts in the auto industry, is being purchased by U.S.-based LKQ Corporation for approximately $2.8 billion in cash.
Uni-Select's FinishMaster division supplies paint and refinishing products to automotive dealerships, collision repair centres and fleet operators, mostly in the United States. Uni-Select CEO Brian McManus said the deal will combine the “complementary strengths” of the companies. The transaction price of $48 per share represents a premium of 19.2 per cent to Uni-Select's closing share price on Feb. 24, 2023. LKQ intends to fund the transaction through a combination of cash on hand and new debt.
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