XPEL to Acquire Performance Tools



    Company Adds Established Tool Distribution Business to Its Growing
Portfolio

    SAN ANTONIO, October 22 /CNW/ - XPEL Technologies Corp. (TSX
VENTURE:DAP.U) announced today the signing of a letter of intent to acquire
Performance Tools Distributing ("Performance Tools") of Dublin, Ohio.
Performance Tools is the preeminent global supplier of window film tools,
paint protection and vinyl installation tools, as well as a distributor of
paint protection film operating a certified paint protection training center
from its facilities in Ohio. Performance Tools is expected to contribute in
excess of US $3 million to XPEL's top-line revenues in 2008.

    XPEL's Chief Executive Officer, Steven J. McAuley, stated, "The
acquisition of Performance Tools further enhances our ability to grow in this
exciting industry and support our important installer network throughout the
world. We realize the importance of high quality installations of our products
coupled with the need for the right tools, equipment and installation
techniques, which are absolutely critical to achieving complete customer
satisfaction." Mr. McAuley further commented, "The Performance Tools team of
highly skilled industry professionals will be a great addition to the XPEL
team offering added reach for our Company. The team is truly customer service
focused and will benefit from the established global distribution network of
XPEL."

    Performance Tools President, George R. Lewis, added, "The opportunity for
us to join forces with XPEL enables Performance Tools to achieve much greater
levels of growth with the strength of the XPEL brand and direct access to its
global distribution network. I am truly excited about this joining of forces,
which includes the significant investment capability XPEL brings to help
develop new products and sales channels in the years ahead."

    The contemplated transaction as described herein is subject to final due
diligence review, the execution of a definitive agreement, and regulatory
approval by the TSX Venture Exchange and any other entities maintaining
jurisdiction. Additional details of the transaction will be disclosed upon
final closing.

    About XPEL Technologies Corp.

    XPEL Technologies Corp. is the worldwide leading supplier of automotive
survival products. XPEL provides automotive paint and headlamp protection
products and is the developer of the Design Access Program software. XPEL
sells its products directly to consumers and installer partners, providing
them everything they need to develop a thriving paint protection business. In
addition to its expansive line of products, the Company offers installation
training and marketing support, making it the premier source for dealers and
installers of paint protection products. XPEL is publicly traded on the TSX
Venture Exchange. Additional information can be found at the Company's
website: www.xpel.com.

    About Performance Tools Distributing

    Performance Tools Distributing offers the most comprehensive selection of
window film tools, paint protection and vinyl installation tools in the world
offering more than 600 items for sale through catalogues, direct marketing,
distribution and Internet sales through its website www.44tools.com.

    The TSXV has not reviewed and does not accept responsibility for the
adequacy and accuracy of this information.




For further information:

For further information: XPEL Technologies Corp., San Antonio Company
Contact: Steven J. McAuley, 210-678-3700 smcauley@xpel.com or Agency Contact:
Blue Flame 6 Shellie Pierce, 866-860-2687 spierce@blueflame6.com

Organization Profile

XPEL Technologies Corp.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890