XPEL Announces Acquisitions; Plans to Add New Distribution Facility in Western Canada
San Antonio, TX – August 27, 2018– XPEL, Inc. (TSXV: DAP.U), a leading supplier of paint protection and window films, announced that it has acquired three Protex franchisees as well as assets from E-Shields Health.
The Company, through its Canadian subsidiaries, acquired three Protex Franchisees located in Quebec City, Quebec; Laval, Quebec; and Calgary, Alberta, Canada. The Protex franchisees operate in exclusive geographic territories in their respective markets and install paint protection and/or automotive window films. The Company acquired the franchisor, Protex Canada, in 2017.
Separately, the Company announced plans to open a distribution facility in Calgary, Alberta, Canada to better serve its customers in western Canada.
Ryan Pape, President and Chief Executive Officer of XPEL, commented, “With these acquisitions, we have expanded our installation footprint to 10 locations in three countries. We’re happy to support our Protex franchisees who were looking for the next step in the development of their businesses, and we’re pleased to welcome new employees to the XPEL team.”
Additionally, XPEL acquired assets from E-Shields Health, a developer of anti-microbial surface protection film sold in a business-to-business setting. The Company intends to re-brand and commercialize the products as part of its XPEL VISION architectural film business in 2019.
The total purchase price of the four businesses was approximately $1.25 million funded from cash on-hand and through the issuance of unsecured promissory notes to the sellers.
About XPEL, Inc.
XPEL leads the industry in designing, manufacturing and distributing high-performance automotive paint and headlamp protection film technologies. Using XPEL’s proprietary software and materials, our professional design team develops products that deliver the ultimate in vehicle protection, meeting the demands of a broad range of makes and models. With more than 70,000 vehicle-specific applications and a global network of trained installers, XPEL is dedicated to exceeding customer expectations in providing high-quality products, customer service and technical support. XPEL, Inc. (TSXV: DAP.U) is publicly traded on the TSXV Exchange. Visit www.xpel.com for more information.
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