XPEL Announces Multiple Acquisitions in North America
01 Ottobre 2021 - 2:30PM
Business Wire
XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of
protective films and coatings, has announced the acquisition of
five businesses in the United States and Canada from two
sellers.
In Canada:
Shadow Shield: A distributor of paint protection film and window
film to customers in Canada with locations in Calgary, Alberta and
Mississauga, Ontario.
Shadow Tint: An installer of paint protection and window film
operating in Calgary, Alberta.
North 1 Technologies: A software company providing software and
patterns for cutting paint protection film to customers around the
world under the FilmWraps brand.
In the United States:
One Armor: An Installer of paint protection and window film in
Phoenix, Arizona.
Tint Net: A high-volume installer of automotive window film
providing on-site service serving mostly mid-range new car
dealerships in Arizona.
The combined purchase price of these acquisitions is
approximately USD$20.1 million and is subject to customary
adjustments, including working capital adjustments. These
acquisitions closed on October 1, 2021.
On a full year basis, these combined acquisitions would add
revenue of approximately USD$17.0 million. After integration, the
Company expects full-year post-synergy earnings before interest,
taxes, depreciation and amortization (EBITDA) of approximately
USD$4.0 million which the Company expects to occur on a run-rate
basis beginning in Q2 2022. The Company expects to incur
approximately USD$0.3 million in acquisition and integration
related expenses and is funding the transaction with existing cash
on hand and available credit facilities.
Ryan Pape, President and Chief Executive Officer of XPEL,
stated, “XPEL remains a willing buyer of businesses that expand
upon our core strategies, from sellers that are looking for their
next journey with a winning and dynamic team. These acquisitions
are consistent with our go-to-market strategy and our desire to add
top talent to the team.”
About XPEL, Inc.
XPEL is a leading provider of protective films and coatings,
including automotive paint protection film, surface protection
film, automotive and architectural window films, and ceramic
coatings. With a global footprint, a network of trained installers
and proprietary DAP software, XPEL is dedicated to exceeding
customer expectations by providing high-quality products, leading
customer service, expert technical support and world-class
training. XPEL, Inc. is publicly traded on Nasdaq under the symbol
“XPEL”.
Safe harbor statement
This release includes forward-looking statements regarding XPEL,
Inc. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20211001005167/en/
Investor Relations: John Nesbett/Jennifer Belodeau IMS Investor
Relations Phone: (203) 972-9200 Email:
jnesbett@institutionalms.com
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