Boucherville, Quebec — Quebec-based automotive giants Uni-Select announced on Monday that it has solidified plans to acquire Maslack Supply Limited, furthering the company’s expansion into Ontario.
Over its 63 years in business, Maslack has grown from a small family-owned and operated auto parts supply company, to include 13 locations across Northern Ontario and more than 200 employees.
By the end of its fiscal year on Jan. 31, Maslack had generated more than $52 million in revenue for the previous year. The company is expected to maintain its core management staff following the acquisition.
“We are very pleased to be announcing the acquisition of Maslack, the most significant acquisition for Uni-Select since we began our turnaround in Q2 of 2021. 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 sizable investments to grow our business,” said Uni-Select CEO and executive chair, Brian McManus.
Betty Jane Marks and Judy Roy, daughters of Maslack founder John Maslack, echoed McManus’ enthusiasm for the acquisition, and spoke to what this all means for their company’s legacy.
“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. 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,” said Marks and Roy, in a statement.
The transaction is expected to close next Tuesday, subject to customary closing conditions. Uni-Select does not expect to make any further announcements regarding the transaction, according to the company’s press release.