XPEL Acquires PermaPlate Film LLC
XPEL, Inc. (Nasdaq: XPEL) announced the acquisition of PermaPlate Film LLC for $30 million in cash. This strategic purchase aims to enhance XPEL's market presence and geographic footprint, particularly in the mid-range segment of automotive window films. PermaPlate Film is projected to contribute approximately $25 million in revenue for 2021 and an estimated $6 million in earnings before interest, taxes, and depreciation post-integration. The deal is expected to incur around $0.5 million in acquisition-related costs in 2021.
- Acquisition adds approximately $25 million in revenue for 2021.
- Expected post-synergy earnings of $6 million on a run-rate basis starting Q4 2021.
- Strengthens market presence and geographic footprint in the mid-range segment.
- Acquisition and integration-related charges of approximately $0.5 million expected in 2021.
XPEL, Inc. (Nasdaq: XPEL) (the "Company"), a global provider of protective films and coatings, announced the acquisition of PermaPlate Film LLC (“PermaPlate Film”), a distributor and installer of automotive window films serving dealerships across the United States.
PermaPlate Film supplies mid-range dealerships primarily engaged in high-volume window film installation. Serving several hundred dealerships across the country, the addition of PermaPlate Film strengthens XPEL’s market presence, enhances its geographic footprint and accelerates the Company’s penetration into the mid-range segment of the market.
On a full-year basis, PermaPlate Film would add approximately
Ryan Pape, President and Chief Executive Officer of XPEL, stated, “This acquisition further extends our window film business beyond the luxury and enthusiast car market. We look forward to leveraging PermaPlate Film’s expertise to drive continued growth in this important segment.”
XPEL is acquiring PermaPlate Film for
About XPEL, Inc.
XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural window films, and ceramic coatings. With a global footprint, a network of trained installers and proprietary DAP software, XPEL is dedicated to exceeding customer expectations by providing high-quality products, leading customer service, expert technical support and world-class training. XPEL, Inc. is publicly traded on Nasdaq under the symbol “XPEL”.
Safe harbor statement
This release includes forward-looking statements regarding XPEL, Inc. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210525005874/en/
FAQ
What is the acquisition value of PermaPlate Film by XPEL?
How will the acquisition of PermaPlate Film impact XPEL's revenue?
When does XPEL expect to see earnings from the PermaPlate acquisition?
What are the expected integration costs related to the acquisition?
What market segment is XPEL targeting with the PermaPlate acquisition?
