PUNE, Maharashtra, [October 3, 2024] – XPEL Inc. (NASDAQ: XPEL), a global provider of protective films and coatings has announced the acquisition of Uniprotect Ventures LLP by its wholly owned subsidiary, XPEL India Private Limited.
Uniprotect Ventures LLP, headquartered in Bengaluru, has been the distributor of XPEL’s products in India. This acquisition marks a significant step in XPEL’s expansion strategy in India and enhances its footprint in one of the world’s fastest-growing automotive markets.
Abhishek Joshi, Managing Director of XPEL India & Middle East, stated, “We are excited to welcome Uniprotect Ventures LLP to the XPEL India family. We look forward to serving our customers in India directly and to increasing our investment in the Indian market for the benefit of our customers.”
In conjunction with the acquisition, XPEL India has appointed Nidhin Sreekumar, Founder & CEO of Uniprotect VenturesLLP as the General Manager for XPEL India. He stated , “I am excited to have this opportunity to help drive the continued progress and growth of XPEL’s business in India”.
The acquisition of Uniprotect Venture LLP will enable XPEL to:
1. Strengthen its network across India
2. Enhance customer support and training capabilities in the region
3. Accelerate the introduction of new XPEL products to the Indian market
4. Capitalize on the growing demand for automotive protection solutions in India.
Forward-Looking Statements: This press release contains forward-looking statements based on XPEL management’s current expectations. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in these statements. XPEL undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
For more information about XPEL and its products, please visit www.xpel.com.
About XPEL, Inc.
XPEL is a leading provider of protective films and coatings, including automotive paint protection film, surface protection film, automotive and architectural 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 training, and world-class support.
