Apogee to Acquire GroGlass for Up to €62.5 Million

M&A · Partnership

โดย Insider Monkey·

Summary · why it matters

Apogee Enterprises has agreed to acquire Latvia-based SIA GroGlass for up to €62.5 million, approximately $72.5 million, on a cash-free, debt-free basis, with a €10 million contingent portion payable over three years if financial targets are met. The deal, expected to close in the third quarter of fiscal 2027, would add GroGlass to Apogee's Performance Surfaces segment, bringing proprietary anti-reflective and advanced coating capabilities. GroGlass is projected to contribute about $30 million in revenue in its first 12 months at an adjusted EBITDA margin of roughly 25%, compared with the segment's 14.8% margin in the first quarter of fiscal 2027. Apogee also identified at least $4 million in annualized cost synergies and operating improvements, which could reduce the illustrative maximum-consideration ratio from about 9.7 times to approximately 6.3 times projected first-year adjusted EBITDA. The acquisition will be funded with cash on hand and existing credit, and its success hinges on execution and realizing projected synergies.

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Apogee Enterprises Inc

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Apogee agrees to acquire GroGlass for up to €62.5M, adding anti-reflective coating capabilities and $4M in synergies to its Performance Surfaces segment.

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