Car Care Products Australia will remain in business selling its non-paint protection film products.
XPEXL will provide for the automaker’s new paint protection film factory-direct program.
The combined purchase price of these acquisitions is approximately $20.1 million.
Expanded activation in 2021 includes three-race primary sponsorship of No. 2 Chevy driven by two-time series champ Josef Newgarden.
The business will be run as a part of XPEL’s Netherlands-based European operation.
Revenues increased 14.8% to $28.4 million compared to first quarter 2019.
Company reports fourth quarter 2019 revenue growth of 47.4%; full year revenue growth of 18.2%.
Protex Centre is the largest franchisee in the Protex Canada network.
Given the relatively low trading volume of its shares on the TSXV and the liquidity provided by the company’s Nasdaq listing, XPEL determined that the costs associated with maintaining a dual listing were no longer justified.
The company’s common stock will begin trading on the Nasdaq Stock Market (NASDAQ) effective with the opening of trading on July 19. Shares of the company’s common stock will trade under the symbol “XPEL.”
Using a hydrophobic formula, XPEL FUSION PLUS boasts self-cleaning properties to repel water, dirt and grime. It is scratch-resistant and helps protect against swirl marks and minor wash scratches to maintain a sleek, high-gloss finish. XPEL FUSION PLUS can be applied to paint, vinyl or glass and is certified to also be applied on all XPEL paint protection films.
The agreement provides XPEL exclusive status, a large presence at national club events and significant exposure via the club’s communication channels. XPEL will be present at key national events in 2019, including Legends of the Autobahn, Festorics and the 50th Annual BMW CCA Oktoberfest.