XPEL, Inc. (NASDAQ:XPEL) (the "Company"), a global provider of protective films and coatings, today announced that it has acquired assets of the exclusive distributor of XPEL's products in the aftermarket in China.
Ryan Pape, President and Chief Executive Officer of XPEL, commented, "We've invested heavily in the past several years to establish our direct go-to-market strategy in the top car markets of the world. China is, of course, the largest car market in the world. With this acquisition we've largely concluded this strategy in our key international markets."
The acquired business is expected to have annual revenues of approximately $45 - $50 million which adds incremental revenue of approximately $13 - 18 million for the Company on a pro-forma basis.