Boucherville, June 2nd, 2015 – Uni-Select Inc. (TSX: UNS), a leading distributor of automotive products in Canada and paint and related products in the United States, closed the transaction for the sale of its Automotive USA and Beck/Arnley activities to Icahn Enterprises L.P., and accordingly is proceeding to a reorganization of its corporate management activities. This transaction changes the landscape of Uni-Select in North America and provides an excellent platform for Uni-Select to accelerate profitable growth within its two core businesses.
Our objective is to streamline and reduce the size of our corporate support functions. Therefore, the role of Vice President, Corporate Services and Chief Financial Officer will be transitioned into a more traditional financial role of Chief Financial Officer. Formerly included in the Corporate Services function, Information Technology and Logistics will be moved into the Canadian operating business they serve. Moving forward, our small corporate office team will consist of Corporate Finance, Legal Affairs, Human Resources and Mergers and Acquisitions.
“We are adjusting our overall corporate structure to focus some business functions back directly into the businesses they serve and, therefore, one step closer to our customers,” said Henry Buckley, Chief Operating Officer and Uni-Select’s next President and Chief Executive Officer effective August 1st 2015.
Vice President, Corporate Services and Chief Financial Officer, Denis Mathieu, to leave July 31st
In line with this restructuring, current Uni-Select President and Chief Executive Officer Richard G. Roy, announced today that Denis Mathieu, Vice President, Corporate Services and Chief Financial Officer, has decided to leave Uni-Select and pursue other professional endeavors. In order to provide continued support and ensure an efficient transition, Denis will remain with Uni-Select through July 31st, 2015.
Denis Mathieu joined Uni-Select in March 2007 as Vice President and Chief Financial Officer. He was appointed Executive Vice President, Corporate Services and Chief Financial Officer in August 2012. In the past few years, Denis has played a key role in the SAP implementation and in the acquisition of FinishMaster.
"Denis is a talented executive and we thank him for his many contributions during the past eight years. We appreciate the leadership he displayed in helping Uni-Select successfully close the sale of Automotive USA and Beck/Arnley activities to Icahn Enterprises L.P.,” said Richard G. Roy.
Uni-Select’s executive management team, on behalf of all team members, wishes to thank Denis for his very significant contribution to the success of Uni-Select and wish him all the best in his forthcoming projects.
In the upcoming weeks, Uni-Select will concentrate on appointing a new Chief Financial Officer while propelling the organization towards accelerating profitable growth in its core markets both organically and through select acquisitions.
Leader in the Canadian distribution of automotive products, Uni-Select is also a leading independent automotive paint distributor in the United States with FinishMaster. Over 2,400 employees spread across 13 distribution centres and 189 corporate stores are dedicated to offering advanced solutions and first-rate service to customers in order for them to benefit from a positively superior experience. Uni-Select’s strong network and proficient programs contribute to the success of countless auto service shops and collision centres as well as more than 1,155 independent wholesalers in North America. Its Canadian banner programs made up of Auto Parts Plus®, Auto-Plus®, Bumper to Bumper®, Auto Select™, Uni-Pro®, SAX and Carrossier ProColor® regroup over 3,900 shops and stores. Uni-Select is headquartered in Boucherville and its shares are traded on the Toronto Stock Exchange (TSX) under the symbol UNS.
The information provided in this press release may include some forward-looking information, which could include certain risks and uncertainties, which may cause the final results to be significantly different from those listed or implied within this news release. Such risks and uncertainties may include, for example, the impact of the transaction on the business of Uni-Select as a whole and certain strategic benefits expected to result from the transaction. For additional information with respect to risks and uncertainties, refer to the Annual Report filed by Uni-Select with the Canadian securities commissions. The forward-looking information contained herein is made as of the date of this press release, and Uni-Select does not undertake to publicly update such forward-looking information to reflect new information, subsequent or otherwise, unless required by applicable securities laws.
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Louis Juneau | Vice President, Legal Affairs and Secretary
Tel. 450 641-2440 | email@example.com