SAN ANTONIO, Texas–(BUSINESS WIRE)–XPEL Technologies Corp. (TSXV:DAP.U) has announced the acquisition of
certain assets of Connectin Europe, B.V. and the concurrent
establishment of XPEL B.V., in Tilburg, Netherlands to serve as a sales,
distribution, training and design center in mainland Europe for
automative paint protection film, headlight protection film, automotive
window film and related products.
Ryan Pape, President and Chief Executive Officer of XPEL, commented,
“Connectin has been a long-term partner for XPEL and this acquisition is
a natural next step to further strengthen our presence in Europe and
advance our strategy to get close to our end customers in key
international markets. This acquisition complements our existing U.K.
facility and broadens our footprint, capabilities and brand recognition
in the strategically important European market.”
Europe is recognized as the epicenter of luxury car production and
important to the long-term growth of XPEL as the manufacturers of a
majority of the cars that XPEL’s products protect are located on the
Mr. Pape continued, “We believe the addition of our Netherlands
operation will enable us to better leverage our existing relationships
with dealerships and other distribution partners across Europe to grow
market share and broaden awareness of the XPEL brand.”
Terms of the acquisition were not disclosed.
About XPEL Technologies Corp.
XPEL is the leading supplier of automotive paint and headlamp protection
films with over 70,000 vehicle-specific applications and a worldwide
network of trained installers. XPEL is the developer of the Design
Access Program software, and manufacturer of XPEL™ Automotive Paint and
Headlamp Protection Products. XPEL has forged the cutting-edge of
automotive protection technology, and leads the industry in quality,
technical support and customer service.
Additional information can be found on the Company’s website at www.xpel.com.
Safe harbor statement
This release includes forward-looking statements regarding XPEL
Technologies Corp. 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 that certain actions, events or results
“may,” “could,” “would,” “might” or “will” be taken, occur or be
achieved. Such statements are based on the current expectations of the
management of XPEL. The forward-looking events and circumstances
discussed in this release may not occur by certain specified dates or at
all and could differ materially as a result of known and unknown risk
factors and uncertainties affecting the company, performance and
acceptance of the company’s products, economic factors, competition, the
equity markets generally and many other factors beyond the control of
XPEL. Although XPEL has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward-looking statement can be
guaranteed. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and XPEL undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
CommCore Consulting Group
Institutional Marketing Services (IMS)
Nesbett/Jennifer Belodeau, 203-972-9200