XPEL Acquires PermaPlate Film LLC
May 25 2021 - 3:05PM
Business Wire
XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of
protective films and coatings, announced the acquisition of
PermaPlate Film LLC (“PermaPlate Film”), a distributor and
installer of automotive window films serving dealerships across the
United States.
PermaPlate Film supplies mid-range dealerships primarily engaged
in high-volume window film installation. Serving several hundred
dealerships across the country, the addition of PermaPlate Film
strengthens XPEL’s market presence, enhances its geographic
footprint and accelerates the Company’s penetration into the
mid-range segment of the market.
On a full-year basis, PermaPlate Film would add approximately
$25.0 million in revenue for 2021. After integration, the Company
expects full-year post-synergy earnings before interest, taxes and
depreciation of approximately $6.0 million which the Company
expects to occur on a run-rate basis starting in Q4 2021. The
Company also expects to incur approximately $0.5 million in
acquisition and integration related charges in 2021.
Ryan Pape, President and Chief Executive Officer of XPEL,
stated, “This acquisition further extends our window film business
beyond the luxury and enthusiast car market. We look forward to
leveraging PermaPlate Film’s expertise to drive continued growth in
this important segment.”
XPEL is acquiring PermaPlate Film for $30 million in cash,
subject to customary adjustments. XPEL is funding the transaction
with existing cash on hand.
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/20210525005874/en/
Investor Relations: John Nesbett/Jennifer Belodeau IMS Investor
Relations Phone: (203) 972-9200 Email:
jnesbett@institutionalms.com
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