XPEL’s rise from struggling software to prolific paint protection among San Antonio success stories
Jake Elder trains on how to apply protective film made by XPEL Inc. at the company’s headquarters in San Antonio.From outside a nondescript industrial building about a mile north of the AT&T Center, you can’t see that the corporate headquarters of XPEL Inc. is an exciting place — the engine of a company that has become a Wall Street darling while growing faster than perhaps any other San Antonio enterprise over the past decade.
“To reach the 40 percent of the market that are not enthusiasts and are not ‘never going to buy,’ we need all hands on deck: dealership involvement, involvement,” Pape said. “A deal like creates tremendous awareness for PPF.”The outlook wasn’t always this rosy for XPEL, which started in the late 1990s as a scrappy software company that sought to store data on dimensions of every panel on every vehicle around the world.
In 2007, then-new CEO Steven McCauley pivoted XPEL to begin selling paint protection film, which is designed to be invisible and protect vehicles from paint chipping and damage. “Later that year, the board called and asked if I wanted to be CEO,” he said. “I said, ‘Well why not? What do you have to lose?’”Pape spent the next couple of years at the helm “trying to not go into bankruptcy” and building a sales team before XPEL introduced its flagship Ultimate Paint Protection Film in 2011.
XPEL now employs 250 people at two sites in San Antonio — more than 700 employees total — with operations in 11 countries. Last month, XPEL acquired the paint protection film business of Car Care Products Australia, which distributes automotive protective films on that continent.
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