FinishMaster Inc., a distributor of paint and related products in the United States and subsidiary of Uni-Select Inc., has entered into an agreement to purchase substantially all of the assets of ColorMaster Automotive Paint Inc. This transaction, which is subject to customary closing conditions and is expected to close within 30 days following Dec. 28, 2015, will substantially increase FinishMaster’s footprint in Illinois, Missouri and Texas and will mark FinishMaster’s first branch in Louisiana.
ColorMaster opened its first location in St. Louis, Missouri, in 1991. As a result of the team’s focus to build strong relationships and provide consistent support to itscustomers, ColorMaster has grown to 15 locations over the past two decades. The team primarily operates in the refinish segment of the aftermarket industry, but also has unique expertise in the heavy industrial market in Texas.
“The ColorMaster team built a culture centered on best-in-class customer service, technical support and a commitment to do more for its customers, partners and community. FinishMaster shares these same values and we are steadfast in our commitment to work together as a team to drive growth in new markets,” said Steve Arndt, president and chief operating officer of FinishMaster.
“This transaction is a continuation of our commitment to grow in key markets and new business segments,” said Henry Buckley, president and CEO of Uni-Select.
