XPEL acquired five businesses from two sellers on October 1, 2021, for a combined approximately US$20.1 million, subject to customary adjustments. The closing was reported in a release filed with the U.S. Securities and Exchange Commission.
The Canadian businesses were distributor Shadow Shield, Calgary installer Shadow Tint and North 1 Technologies, which supplied FilmWraps cutting software and patterns. The U.S. businesses were Phoenix installer One Armor and Tint Net, an Arizona automotive-window-film installation operation serving dealerships.
XPEL said it would fund the transactions with existing cash and available credit. It separately forecast acquisition and integration expenses; those should not be confused with the combined purchase consideration.
The package expanded several parts of the installation supply chain at once. The release also forecast revenue and post-integration earnings. This historical brief does not treat those forecasts as subsequently achieved results or allocate the combined price among the five targets.
Sources & reporting notes
- XPEL announces multiple acquisitions in North America, Exhibit 99.1 XPEL via U.S. Securities and Exchange Commission · Source dated October 1, 2021
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