Xpel acquires exclusive distributor in China

Xpel (XPEL) announced that it has acquired assets of the exclusive distributor of Xpel’s products in the aftermarket in China. The acquired business is expected to have annual revenues of approximately $45M-$50M which adds incremental revenue of approximately $13M-$18M for the company on a pro-forma basis. The transaction structure will result in the company owning a 76% interest in the entity conducting business in China. The purchase was completed using a combination of cash, deferred payments and other contingent consideration.