The acquisition is slated to close during Apogee’s fiscal third quarter and is projected to contribute roughly $30 million in revenue within its first year of operation. GroGlass produces high-clarity coatings used in museums, electronics, and architectural projects, assets Apogee intends to fold directly into its existing Performance Surfaces segment.
In section Market Quotes
Apogee Enterprises Acquires Latvia-Based GroGlass for $72.5 Million
Apogee Enterprises has reached an agreement to acquire GroGlass, a Latvian manufacturer specializing in anti-reflective coatings, for a total consideration of up to $72.5 million. The deal, announced Wednesday, incorporates $11.6 million in performance-based milestone payments tied to financial benchmarks over the next three years.
Management expects the transaction to bolster the company’s broader materials science and specialized coating capabilities. By absorbing the Latvian firm’s portfolio, Apogee aims to strengthen its competitive position in optical glass and acrylic markets globally.
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