The Point S Banner Pursues Nation-wide Expansion
MONTREAL, May 2, 2022 /CNW Telbec/ - Unimax Ltd. ("Unimax"), a leading Canadian tire wholesaler, distributor and franchisor of well-known banners, including Point S Canada, has secured significant funding from new partner National Bank Private InvestmentTM ("NBPI") to fuel its nation-wide growth plan. The National Bank SME Growth Fund, L.P., which is managed by NBPI, and an investment vehicle with funds raised from investor clients of the National Bank group, will acquire the equivalent of a 30% equity stake in the company. The partnership with NBPI has made it possible for Unimax to acquire 100% of the shares of Distribution Stox Inc., a last-mile distribution company and a key distributor for Unimax.
With combined annual revenues of approximately $600 million and a network of more than 875 licensed points of sale, including the globally recognized and high-growth Point S banner, the Boucherville, Quebec-based company is the market leader in Quebec and is one of the largest players in Canada. With a strong balance sheet, Unimax can pursue its accelerated growth plan, notably through acquisitions in the Canadian market.
"Thanks to the commitment of its 450 employees, independent retailers, and some 60 shareholders, Unimax has achieved sustained business growth year after year. I am pleased to have been leading the Unimax team since March and continuing the work started by my predecessor Bruno Leclair and the strong team that has brought us to where we are today. Bruno and I will continue to work together until his retirement on May 31 of this year. The support of a partner like National Bank Private Investment will enable us to capitalize on growth opportunities throughout Canada," said Jean Novak, President and CEO of Unimax. Bruno Leclair will sit on the board of directors to ensure continuity.
Unimax has over 22 warehouses with a total capacity of close to 2 million tires. It maintains direct relationships with the leading tire manufacturers, so that its many business partners benefit from the advantages of group purchasing. Unimax counts independent retailers, automotive dealerships, and online merchants among its 5,000+ clients. Long-term industry trends like the electrification of vehicle fleets are strong catalysts for growth.
"The National Bank group is proud to support Unimax and its growth plan. It's a company that is thriving and contributes to the economic growth 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. They will also be able to count on our support as a major partner and benefit from our understanding of the Canadian market to help them serve more communities," said Luc Ménard, Executive Vice-President, Managing Director and Head of Private Investments at National Bank.
About Unimax
Founded in 1979 and located in Boucherville, Quebec, Unimax is a leader in the Canadian tire industry. The company is a wholesaler, distributor, and representative of a retail network that offers products to independent retailers and garages throughout Canada. Unimax owns the Canadian rights to the internationally recognized Point S banner and has an exclusive portfolio of 5 complementary banners that form a network of more than 875 points of sale. The Point S, Otobox, V1, Méga Pneu and Prestige Tire banners ensure a strong presence in many regions of Canada.
About National Bank of Canada
With $367 billion in assets as at January 31, 2022, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has more than 27,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn, and Twitter.
About National Bank Private Investment
National Bank Investments Inc., using the business name National Bank Private Investment, manages the National Bank SME Growth Fund, L.P. National Bank Private Investment (NBPI) is a venture capital and private equity management company that offers diversified investment opportunities to a clientele of seasoned investors from the National Bank network. The capital raised provides support to growing companies that wish to remain in control of their development and work with long-term partners. National Bank Private Investment is a registered trademark of National Bank of Canada.
SOURCE National Bank of Canada
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