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XPEL Announces Acquisition of Transguard Inc

SAN ANTONIO--(BUSINESS WIRE)--XPEL Technologies Corp. (TSXV: DAP.U) has announced its acquisition of Transguard Inc, an installer of automotive paint protection and window film based in Boise, Idaho.

“Scott will be a great addition to the XPEL team serving as our Manager of the Boise market post-acquisition. Transguard was our primary customer in this market and we will work towards adding more customers and growing the addressable size of the Boise market.”

Ryan Pape, President and Chief Executive Officer of XPEL, commented, “Transguard has been a customer of ours for over fifteen years and we’re excited to welcome Scott Cluff and the Transguard team to the XPEL family. Under Scott’s leadership, Transguard has built a great reputation for outstanding service in the Boise area.”

Scott Cluff, President and CEO of Transguard, commented, “My team and I are thrilled to be joining XPEL, a clear leader in our industry, and we look forward to leveraging the XPEL brand and service model to capitalize on the significant growth opportunities in Boise.”

Mr. Pape continued, “Scott will be a great addition to the XPEL team serving as our Manager of the Boise market post-acquisition. Transguard was our primary customer in this market and we will work towards adding more customers and growing the addressable size of the Boise market.”

Terms of the acquisition were not disclosed.

About XPEL Technologies Corp.
XPEL leads the industry in designing, manufacturing and distributing high-performance automotive paint and headlamp protection film technologies. Using XPEL’s proprietary software and materials, our professional design team develops products that deliver the ultimate in vehicle protection, meeting the demands of a broad range of makes and models. With more than 70,000 vehicle-specific applications and a global network of trained installers, XPEL is dedicated to exceeding customer expectations in providing high-quality products, customer service and technical support. XPEL Technologies Corp. (TSXV: DAP.U) is publicly traded on the TSXV Exchange. Visit www.xpel.com for more information.

Safe harbor statement
This release includes forward-looking statements regarding XPEL Technologies Corp. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts

Investor Relations:
Institutional Marketing Services (IMS)
John Nesbett/Jennifer Belodeau, 203-972-9200
jnesbett@institutionalms.com