Apogee Enterprises Inc. has agreed to acquire Latvia-based specialized coatings manufacturer GroGlass for approximately $72.5 million, strengthening its presence in Europe and expanding its capabilities in performance surfaces.
The transaction is structured on a cash-free, debt-free basis and remains subject to customary closing conditions. The purchase price includes up to $11.6 million in contingent consideration, based on GroGlass achieving specified financial targets over the next three years.
GroGlass specializes in anti-reflective and advanced coating technologies for display, architectural and technical applications. Its solutions are designed to provide optical clarity and durability and are used across markets including museums, electronics and architectural design.
Following completion, Apogee plans to integrate GroGlass into its Performance Surfaces segment. The company expects the acquisition to generate approximately $30 million in revenue during the first twelve months, with an adjusted EBITDA margin of around 25%. 
Apogee has also identified at least $4 million in annualized cost savings and operating improvements, which are expected to be achieved within three years of the acquisition.
The transaction will be financed through cash and Apogee’s existing credit facility and is expected to close during Apogee’s fiscal 2027 third quarter.
Source: USGlassMag with additional information added by Glass Balkan
