XPEL announced the acquisition of Houston-based Veloce Innovation on January 11, 2021, stating that the transaction had closed on December 31, 2020.
Veloce supplied architectural films for residential, commercial, marine and industrial uses. XPEL described the addition as a way to strengthen its architectural-window-film business and draw on the acquired team’s industry experience and relationships.
The announcement did not disclose the transaction terms. Its growth expectations were management’s rationale for the deal, rather than evidence that particular revenue gains had already occurred.
The two dates matter when tracing the company’s expansion: this was a completed 2020 acquisition reported publicly in January 2021. It was distinct from XPEL’s later automotive-dealership and other acquisition announcements.
Sources & reporting notes
- XPEL acquires Veloce Innovation, a distributor of architectural films XPEL via Business Wire / Nasdaq · Source dated January 11, 2021
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