FinishMaster, Inc., a distributor of paint and related products in the United States and subsidiary of Uni-Select Inc. (TSX:UNS), a distributor of automotive products in Canada, announced on January 4 that it has completed the acquisition of substantially all of the assets of ColorMaster Automotive Paint, Inc. This transaction was initially announced on December 28, 2015 and its consummation was subject to certain customary closing conditions, all of which have been satisfied.
“We are happy to welcome more than 76 new team members to the FinishMaster family. Our combined efforts will accelerate growth in new geographic areas and maximize our service, product, and technical support to new and existing customers,” stated Steve Arndt, president and COO, FinishMaster.
“This acquisition of a leading regional player in the automotive refinish sector is a key strategic addition to our portfolio,” said Henry Buckley, president and CEO of Uni-Select.