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XPEL Announces Multiple Acquisitions in North America

The combined purchase price of these acquisitions is approximately $20.1 million.


XPEL Inc., a global provider of protective films and coatings, has announced the acquisition of five businesses in the United States and Canada from two sellers.


In Canada:

Shadow Shield: A distributor of paint protection film and window film to customers in Canada with locations in Calgary, Alberta and Mississauga, Ontario.

Shadow Tint: An installer of paint protection and window film operating in Calgary, Alberta.

North 1 Technologies: A software company providing software and patterns for cutting paint protection film to customers around the world under the FilmWraps brand.

In the United States:

One Armor: An Installer of paint protection and window film in Phoenix, Arizona.

Tint Net: A high-volume installer of automotive window film providing on-site service serving mostly mid-range new car dealerships in Arizona.

The combined purchase price of these acquisitions is approximately $20.1 million and is subject to customary adjustments, including working capital adjustments. These acquisitions closed on Oct. 1, 2021.


On a full year basis, these combined acquisitions would add revenue of approximately $17 million. After integration, the company expects full-year post-synergy earnings before interest, taxes, depreciation and amortization (EBITDA) of approximately $4 million which the company expects to occur on a run-rate basis beginning in Q2 2022. The company expects to incur approximately $0.3 million in acquisition and integration related expenses and is funding the transaction with existing cash on hand and available credit facilities.

Ryan Pape, president and CEO of XPEL, stated, “XPEL remains a willing buyer of businesses that expand upon our core strategies, from sellers that are looking for their next journey with a winning and dynamic team. These acquisitions are consistent with our go-to-market strategy and our desire to add top talent to the team.”



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