Business
XPEL To Acquire French Distributor France Auto Racing
SAN ANTONIO--(BUSINESS WIRE)-- XPEL, Inc. (Nasdaq: XPEL) (“XPEL”, “the Company”), a global provider of protective films and coatings, today announced that it
About this update from Xpel, Inc.
[{"type":"text","content":" SAN ANTONIO--(BUSINESS WIRE)--\nXPEL, Inc. (Nasdaq: XPEL) (“XPEL”, “the Company”), a global provider of protective films and coatings, today announced that it has agreed to acquire certain assets of France Auto Racing, a distributor of automotive paint protection film serving France.\n\nRyan Pape, President and Chief Executive Officer of XPEL, commented, “This is a continuation of our over-arching get close to the customer strategy. This acquisition will further enhance the development of the French market which we believe is highly underpenetrated for us and for the industry as a whole. We have a track record of successfully combining our resources with local, experienced operators to achieve success in markets around the world and the team at France Auto Racing will help us do that in France.”\n\nThe business will be run as a part of XPEL’s Netherlands-based European operation where we plan to add additional account management, training and customer service personnel. Additionally, the Company will offer French-language training both onsite in France and at its Netherlands training center.\n\nTerms were not disclosed and closing is subject to customary conditions and is expected in the fourth quarter.\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 commercial/residential 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 th...