XPEL, Inc. (XPEL) announced its acquisition of Houston, Texas-based, Veloce Innovation (Veloce), a provider of architectural films for use in residential, commercial, marine and industrial settings, today. The acquisition closed on December 31, 2020, according to the company. The terms of the acquisition agreement were not disclosed.
“We’re pleased to welcome industry veteran Harry Rahman [founder of Veloce] and his team from Veloce to XPEL,” said Ryan Papa, XPEL president and CEO. “Harry brings a wealth of experience, extensive knowledge and deep relationships in the architectural window film industry. We look forward to leveraging Harry’s expertise to accelerate revenue generation in this key product segment for XPEL.”
“XPEL has a premium brand and increasing recognition in the architectural film marketplace,” said Rahman. “With XPEL’s vast resources and global infrastructure, I look forward to this opportunity to help drive the continued progress and strong growth of XPEL’s commercial and residential window segment.”