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XPEL Acquires Veloce Innovation a Leading Distributor of Architectural Films
SAN ANTONIO--(BUSINESS WIRE)-- XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of protective films and coatings, announces the acquisition of
About this update from Xpel, Inc.
[{"type":"text","content":" SAN ANTONIO--(BUSINESS WIRE)--\nXPEL, Inc. (Nasdaq: XPEL) (the \"Company\"), a global provider of protective films and coatings, announces the acquisition of Houston, Texas-based Veloce Innovation, a leading provider of architectural films for use in residential, commercial, marine and industrial settings. The acquisition closed on December 31, 2020.\n\nRyan Pape, President and Chief Executive Officer of XPEL, stated, “We’re pleased to welcome industry veteran Harry Rahman and his team from Veloce to XPEL. Harry brings a wealth of experience, extensive knowledge and deep relationships in the architectural window film industry. We look forward to leveraging Harry’s expertise to accelerate revenue generation in this key product segment for XPEL.”\n\n“XPEL has a premium brand and increasing recognition in the architectural film marketplace. With XPEL’s vast resources and global infrastructure, I look forward to this opportunity to help drive the continued progress and strong growth of XPEL’s commercial and residential window segment,” commented Harry Rahman, Founder of Veloce Innovation.\n\nTerms of the acquisition agreement were not disclosed.\n\nAbout XPEL, Inc.\n\nXPEL 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”.\n\nSafe harbor statement\n\nThis 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,\" \"mi...