MONTREAL — Private equity management firm National Bank Private Investment (NBPI) will acquire a 30% stake in Unimax Ltd., the Canadian tire and auto parts distributor whose holdings include Point S Canada.
The investment has allowed Unimax to acquire 100% of the shares of Distribution Stox Inc., the product distributor for Unimax. NBPI manages the National Bank SME Growth Fund L.P., an investment entity that partners with private investor clients of the National Bank group.
Boucherville, Quebec-based Unimax said it has revenues of nearly $600 million CDN and serves than 875 points of sale, including those under Point S banner. Unimax said the investment also allows Unimax to pursue an accelerated growth plan, particularly through acquisitions in the Canadian market.
Founded in 1979, Unimax said it has the largest market share in its industry in Quebec and is one of the leaders in Canada.
Jean Novak, president and CEO of Unimax since he succeeded Bruno Leclair in March, credited the company's 450 employees, independent retailers and some 60 shareholders for helping it sustain growth annually.
"Bruno and I will continue to work together until his retirement on May 31 of this year," Novak said. "The support of a partner like National Bank Private Investment will enable us to capitalize on growth opportunities throughout Canada."
Leclair will sit on the board of directors to ensure continuity.
Unimax operates 22-plus warehouses with a capacity of nearly 2 million tires. Unimax said it maintains direct relationships with leading tire manufacturers, in order that its business partners "benefit from the advantages of group purchasing."
According to Unimax, independent retailers, automotive dealerships and online merchants are among its 5,000+ clients. The company called the burgeoning electric vehicle market are strong catalysts for growth.
Luc Ménard, executive vice president, managing director and chief private placement officer at National Bank, called Unimax a "company that's thriving and contributing to the vitality of our many regions."
"There's no denying that Unimax is a business success story with many chapters still to be written. This is thanks in large part to the energy of its employees, shareholders, and partners who are all strongly committed to Unimax and its promise to deliver quality that meets the highest customer-experience standards," he said.
Menard said NBPI will be a major partner and "benefit from our understanding of the Canadian market to help them serve more communities."
Besides Point S, Unimax operates banners such as Otobox, V1, Méga Pneu and Prestige Tire throughout Canada.
