XPEL Announces Acquisition of Stratashield LLC
XPEL ANNOUNCES ACQUISITION OF STRATASHIELD LLC
San Antonio, TX – April 3, 2017– XPEL Technologies Corp. (TSXV: DAP.U) has announced its acquisition of Stratashield LLC, a provider of installation services for automotive paint protection and window film in Dallas, TX.
Ryan Pape, President and Chief Executive Officer of XPEL, commented, “We’re excited to welcome Houston Orona and the Stratashield team to the XPEL family. Houston has a great business and enjoys a strong reputation in the Dallas-Fort Worth metroplex for providing outstanding service. This acquisition gives us a local presence in this growing market and is indicative of our continuing execution of our ‘Get Close to the Customer’ strategy. We look forward to combining our existing industry-leading automotive paint protection products with the customer-centric focus that Stratashield is known for, to deliver better value for both new and existing customers in the Dallas-Fort Worth area.
“Houston will be a great addition to the team, not only as we integrate his business, but as our Manager of the Dallas-Fort Worth market, where he will be incentivized to grow, develop and support our entire network of customers in that area. Texas has long been very important to us and this acquisition helps to round out our presence in our home state,” Mr. Pape continued.
Terms of the acquisition were not disclosed.
About XPEL Technologies Corp.
XPEL is the leading supplier of automotive paint, headlamp and window protection films with over 70,000 vehicle-specific applications and a worldwide network of trained installers. Using XPEL’s propriety software and patented 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. XPEL is the developer of the Design Access Program software, and manufacturer of XPEL™ Automotive Paint and Headlamp Protection Products. XPEL has forged the cutting-edge of automotive protection technology, and leads the industry in quality, technical support and customer service.
Additional information can be found on the Company’s website at www.xpel.com
Safe harbor statement
This release includes forward-looking statements regarding XPEL Technologies Corp. and its business, which may include, but is not limited to, anticipated use of proceeds from capital transactions, expansion into new markets, and execution of the company’s growth strategy. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “is expected,” “expects,” “scheduled,” “intends,” “contemplates,” “anticipates,” “believes,” “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of the management of XPEL. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, performance and acceptance of the company’s products, economic factors, competition, the equity markets generally and many other factors beyond the control of XPEL. Although XPEL has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and XPEL undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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