XPEL, Inc 8-K, filed Feb 3, 2020
XPEL, Inc. (XPEL)
8-K
2020-02-03
For: 2020-01-30
View Original
Added on
April 10, 2026
About this 8-K
XPEL, Inc filed this 8-K on February 3, 2020, reporting on events of January 30, 2020.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
January 30, 2020
Date of Report (date of earliest event reported)
XPEL, INC.
(Exact name of registrant as specified in its charter)
Nevada | 001-38858 | 20-1117381 | |
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | |
618 W. Sunset Road San Antonio, Texas | 78216 | ||
(Address of Principal Executive Offices) | (Zip Code) | ||
Registrant's telephone number, including area code: (210) 678-3700
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock | XPEL | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x
Item 7.01 Regulation FD Disclosure
XPEL, Inc. announced on January 30, 2020 that it has agreed to acquire Protex Centre, a Montreal based paint protection film installer, and the largest franchisee in the Protex Canada network.
A press release related to this agreement is available at www.xpel.com/newsroom.
The information in this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibit is to be filed as part of this Form 8-K:
EXHIBIT NO. | IDENTIFICATION OF EXHIBIT | |
99.1 | ||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
XPEL, Inc. | |
Dated: January 30, 2020 | By: /s/ Barry R. Wood |
Barry R. Wood | |
Senior Vice President and Chief Financial Officer | |
XPEL Acquires Montreal, Canada Paint Protection Film Installer Protex Centre
San Antonio, TX - January 30, 2020 - XPEL, Inc. (Nasdaq: XPEL) (“XPEL”, “the Company”), a global provider of protective films and coatings, today announced that it has agreed to acquire Protex Centre, the largest franchisee in the Protex Canada network. Closing is subject to customary conditions and is expected to occur on February 1, 2020.
Protex Centre is a Montreal-based wholesale-focused paint protection film installation business, serving primarily dealerships with over 20 employees and a 15-year operating history.
The acquisition is expected to add over CAD$2.5 million in incremental revenue, excluding the approximately CAD$1.0 million in annual purchases by Protex Centre from XPEL. We anticipate that the acquisition will be immediately accretive to our 2020 results of operations. The acquired business will combine physically and operationally with the Protex Pointe-Claire window film business acquired by XPEL in 2018, providing an integrated wholesale solution for a significant portion of the Montreal area.
Ryan Pape, President and Chief Executive Officer of XPEL, commented, “Protex Centre is one of the largest wholesale paint protection film installation businesses in the world and one of our single largest individual customers. We are excited to add Protex Centre to our great team in Quebec.”
The purchase price was approximately CAD$3.25 million, funded from cash on hand and through the issuance of unsecured promissory notes payable to the sellers.
About XPEL, Inc.
XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and commercial/residential 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.
For more information, contact: | |
Investor Relations: John Nesbett/Jennifer Belodeau IMS Investor Relations Phone: (203) 972-9200 Email: jnesbett@institutionalms.com | |