Date Closed

January 11, 2011

Lead Office

Montréal

Value

210.00 Million USD

On January 11, 2011, Uni-Select Inc. acquired FinishMaster, Inc., the largest independent distributor of automotive paints, coatings and related accessories in the U.S., for a purchase price of approximately US$210 million, including the assumption of an estimated net debt of US$45 million (the “Acquisition”).

As financing for part of the purchase price, Uni-Select Inc. completed a prospectus offering (the “Offering”) of a combination of subscription receipts and extendible convertible unsecured subordinated debentures for aggregate gross proceeds of C$103,525,875 (the “Offering”), including an over-allotment option exercised in full by the underwriters of the Offering.  The Offering, which was completed on January 6, 2011, was underwritten by a syndicate of underwriters led by National Bank Financial Inc. that included RBC Dominion Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Desjardins Securities Inc., GMP Securities L.P. and Laurentian Bank Securities Inc. (the “Underwriters”). 

The remainder of the purchase price was financed by a new US$200 million operating credit facility and US$200 million term facility (the “Debt Financing”) granted by a syndicate of lenders led by National Bank Financial Inc (the “Lenders”).  The Debt Financing closed on January 10, 2011.

McCarthy Tétrault LLP represented Uni-Select, the acquiror, with a team led by Patrick Boucher.