XPEL Completes Armourfend Acquisition

San Antonio-based XPEL Technologies Corp. recently announced it has completed the acquisition of ArmourfendCAD Inc. in El Dorado Hills, Calif. The company announced its intent to acquire 100 percent of the paint protection pattern design house’s stock two months ago.

Founded in 1996 by Bob Jackson in the United Kingdom, Armourfend developed an extensive library of shapes for both North American and European automotive models. The company also is a provider of industry training and serves both retail and dealership accounts from its facilities in Northern California.

Consideration paid to Armourfend includes a cash payment totaling $500,000 and the issuance of 491,160 restricted shares of XPEL common stock, subject to a 15-percent holdback for integration and performance.