BOUCHERVILLE, QUEBEC — Uni-Select has completed both transactions for the sale of the assets of its Heavy Duty Group, also known as Palmar.

The part of the Heavy Duty Group that provides replacement parts, tools and accessories for heavy-duty vehicles is being sold to UAP Inc., a Canadian subsidiary of Genuine Parts Co. The wheels division is being sold to Robert Thibert Inc.

These transactions, initially announced on July 16, are expected to generate $22 million (CDN) in net cash during the third quarter and result in a non-recurring net loss of approximately $5 million (CDN). The proceeds of the sale will reduce debt and the overall interest expense will decrease accordingly, said Uni-Select.

"Uni-Select intends to continue to grow through both organic development and acquisitions of core activities related to the distribution of automotive replacement parts and accessories in both Canada and the United States" said Richard Roy, president and chief executive officer of Uni-Select.