XPEL Acquires invisiFRAME For Undisclosed Sum

XPEL Inc XPEL has agreed to acquire invisiFRAME Ltd, a provider of custom-tailored bicycle frame protection kits in the U.K., for an undisclosed sum.
invisiFRAME primarily sells direct-to-consumer through its website and also directly supplies bicycle shops across the U.K, Europe, Australia, and the U.S.
"As we continue to evolve and expand our reach to new consumer targets, we've seen a significant crossover between bike and car enthusiasts," said Robert Bezner, VP, Brand of XPEL.
XPEL expects invisiFRAME to add over $2.7 million in incremental annual revenue and be immediately accretive to the 2021 results of operations.
XPEL held $8.7 million in cash and equivalents as of June 30, 2021.
Price Action: XPEL shares closed higher by 4.64% at $79.42 on Monday.