Uni-Select, Canada’s second-largest distributor of automotive and heavy-duty replacement parts, equipment, tools and accessories, and Acklands-Grainger, Canada’s leading distributor of industrial, fleet and safety supply products, have agreed to form a joint venture that will combine Uni-Select’s prairies subsidiary and Acklands-Grainger’s automotive aftermarket division operating as Bumper to Bumper. Uni-Select and Acklands-Grainger will have a 50 per cent ownership in the new company, which will be managed by Uni-Select. The transaction, which is subject to regulatory approval and customary closing conditions, was signed on September 28, 2001 and is expected to close January 31, 2002. Financial terms of the deal are undisclosed.
Uni-Select was represented by its vice-president, legal affairs, Pierre Chesnay, and by Stephen Halperin, Susan Garvie and Kari MacKay of Goodmans LLP. Richard G. Roy, vice-president, administration and CFO, and Robert Martin, vice-president, corporate development, were also involved in the negotiations.
Acklands-Grainger was represented by its general counsel, Patrick Clifford, and by Paul Terry, Garry Dawson, Dennis Miller and Paige Backman of Aird & Berlis LLP, working with William Ross, vice-president, finance and technology and Paul Rushlow, vice-president, product management.