XPEL, Inc. (XPEL): M&A transaction — XPEL invests ~$110M in San Antonio facility and China manufacturing; reaffirms 2028 margin targets

XPEL, Inc.

Acquired 435,000-sq-ft San Antonio site for ~$60.4M; financed with $44.8M building loan (4.7% rate, 10-yr term).
Acquired 75% interest in a China manufacturing facility; total investment ~$110M within prior $75M-$150M range.
Reaffirmed goal of mid-20% operating margins by end-2028 on a run-rate basis.
Expects minimal impact to 2026 EPS; incremental margin contribution from mid-2027.
Over next 12-24 months, will consolidate leased ops facility into new site; XPEL will occupy ~230,000 sq ft.

item 1.01 item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

XPEL, Inc. incurred guarantee with PNC Bank, National Association.

Instrument: guarantee
Counterparty: PNC Bank, National Association
Event: incurrence

Exact text from the filing

The Company has guaranteed the obligations of Harvest under the Building Loan (the “Guaranty”).

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

XPEL, Inc. incurred loan of $44,800,000 with PNC Bank, National Association at the Term SOFR Rate plus 125 basis points (1.25%); at closing: 4.7% per annum maturing May 15, 2036 (ten years from the closing date).

Instrument: loan
Principal: $44,800,000
Counterparty: PNC Bank, National Association
Rate: the Term SOFR Rate plus 125 basis points (1.25%); at closing: 4.7% per annum
Maturity: May 15, 2036 (ten years from the closing date)
Event: incurrence

Exact text from the filing

On May 15, 2026, Harvest entered into a loan agreement (the “Building Loan”) with PNC Bank, National Association (the “Lender”), secured by the Properties. The Building Loan has a principal amount of $44,800,000, bears interest at the sum of (A) the Term SOFR Rate in effect on each Reset Date (each as defined in the Note included as Exhibit 10.2) plus (B) 125 basis points (1.25%), matures on May 15, 2036 (ten years from the closing date), and amortizes over a twenty-five (25) year schedule.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

XPEL, Inc. completed an acquisition involving Harvest Venture Holding Company (wholly-owned subsidiary) for approximately $60,400,000 (closed 2026-05-15).

Action: acquisition
Counterparty: Harvest Venture Holding Company (wholly-owned subsidiary)
Consideration: approximately $60,400,000
Closing: 2026-05-15

Exact text from the filing

had previously assigned its rights under the real estate purchase agreement for the Properties to Harvest. The aggregate purchase price for the Properties was approximately $60,400,000. Building Loan In connection with the Acquisition, on May 15, 2026, Harvest entered into a loan agreement (the “Building Loan”) with PNC Bank, National Association (the

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

XPEL, Inc. entered into Building Loan with PNC Bank, National Association valued at $44,800,000 principal, interest at Term SOFR + 125 bps (4.7% at closing), matures 2036-05-15, 25-yea (effective 2026-05-15).

Action: entry
Agreement: credit facility
Counterparty: PNC Bank, National Association
Value: $44,800,000 principal, interest at Term SOFR + 125 bps (4.7% at closing), matures 2036-05-15, 25-yea
Effective: 2026-05-15

Exact text from the filing

On May 15, 2026, Harvest entered into a loan agreement (the “Building Loan”) with PNC Bank, National Association (the “Lender”), secured by the Properties.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

XPEL, Inc. amended Credit Facility Amendment with Wells Fargo Bank, National Association valued at amendment to existing credit facility, permitting Building Loan indebtedness, guaranty, assignment, (effective 2026-05-15).

Action: amendment
Agreement: credit facility
Counterparty: Wells Fargo Bank, National Association
Value: amendment to existing credit facility, permitting Building Loan indebtedness, guaranty, assignment,
Effective: 2026-05-15

Exact text from the filing

On May 15, 2026, the Company entered into an amendment (the “Credit Facility Amendment”) to its existing credit facility with Wells Fargo Bank, National Association (the “Credit Facility”).

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42 debt financings filed in the last 30 days. Browse all debt financings →

XPEL, Inc. filing history →

Source: SEC EDGAR

accession 0001767258-26-000043

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