XPEL Inc. Expands Global Reach with Acquisition of Chinese Distributor's Assets
XPEL, Inc., a global provider of protective films and coatings, has announced the acquisition of the assets of its exclusive distributor in China's aftermarket. The acquisition is part of XPEL's strategy to establish a direct go-to-market approach in major car markets worldwide, with China being the largest. The acquired business is expected to generate annual revenues of approximately $45 - $50 million, contributing an incremental $13 - $18 million in revenue for XPEL on a pro-forma basis. The transaction allows XPEL to own a 76% interest in the Chinese entity, with the purchase completed through cash, deferred payments, and other contingent considerations. Ryan Pape, XPEL's President and CEO, highlighted the strategic importance of this acquisition in concluding their international market strategy, while Chris West, VP of XPEL Asia Pacific, emphasized the benefits of direct involvement in fostering OEM and 4S opportunities in China.
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