Apogee Enterprises to Acquire Groglass for $72.5M

By Tamara Parker • Thursday, September 03 13:03 • Permanent Link

Apogee Enterprises said it will buy Latvian coatings specialist Groglass for up to €62.5 million, or about $72.5 million, in a deal expected to close in its fiscal 2027 third quarter.

The purchase price includes as much as €10 million, or about $11.6 million, paid over three years if Groglass hits certain financial targets.

Apogee said Groglass is expected to add more than $30 million in revenue in the first 12 months after closing and do so at an adjusted EBITDA margin of about 25%.

The company also identified at least $4 million in annualized cost synergies and operating improvement opportunities, with those gains expected within three years.

Groglass, based in Riga, Latvia, specializes in anti-reflective and other advanced coatings for display, architectural and technical uses. Apogee said the business will be folded into its performance surfaces segment.

The acquisition will be funded with cash on hand and Apogee’s existing credit facility. As a result of these announcements, the company's shares have moved 0.76% on the market, and are now trading at a price of $38.35. If you want to know more, read the company's complete 8-K report here.

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