Xpel Buys Five Businesses In US, Canada For $20.1M

Xpel Inc (NASDAQ:XPEL) has acquired five businesses in the U.S. and Canada from two sellers for a combined purchase price of $20.1 million. The deals closed on October 1, 2021.
In Canada, the company acquired Shadow Shield, a paint protection and window film distributor, Shadow Tint, an installer of paint protection and window film, and North 1 Technologies, a software company providing software and patterns for cutting paint protection film.
In the U.S., Xpel purchased One Armor, an installer of paint protection and window film, and Tint Net, an installer of automotive window film, providing on-site service serving mostly mid-range new car dealerships in Arizona.
On a full-year basis, these combined acquisitions would add revenue of approximately $17.0 million.
Xpel held $8.7 million in cash and equivalents as of June 30, 2021.
Price Action: XPEL shares are trading lower by 2.47% at $73.99 on the last check Friday.