MINNEAPOLIS--(BUSINESS WIRE)--Apogee Enterprises, Inc. (Nasdaq: APOG), a leading provider of architectural building products and services, as well as high-performance coated materials used in a variety of applications, today announced the completion of its previously announced acquisition of SIA “GroGlass” ("Groglass").The transaction, valued at up to approximately $71.8 million at current exchange rates, including contingent earnout consideration, was completed following satisfaction of customary closing conditions.
“The closing of the Groglass acquisition represents another important milestone in the execution of our strategy,” said Don Nolan, Apogee Executive Chair and CEO. “Groglass brings highly differentiated technology, a strong brand, and deep expertise in premium anti-reflective coatings that complement and strengthen our Performance Surfaces portfolio. We are excited to welcome the Groglass team to Apogee and believe the combination will expand opportunities for growth in both existing and new markets, enhance innovation, and support long-term value creation for our customers and shareholders.”
About Groglass
Groglass, located in Riga, Latvia, is a leading provider of high-performance glass surface solutions, specializing in anti-reflective and other advanced coatings used in display, architectural, and technical applications. Groglass’ portfolio includes premium brands recognized for superior optical clarity and durability, serving customers across global end markets such as museums, electronics, and architectural design. With a strong foundation in materials science and coating technologies, Groglass combines innovation, quality, and long-standing customer relationships to deliver differentiated solutions.
About Apogee Enterprises, Inc.
Apogee Enterprises, Inc. (Nasdaq: APOG) is a leading provider of architectural building products and services, as well as high-performance coated materials used in a variety of applications. Headquartered in Minneapolis, MN, our portfolio of industry-leading products and services includes architectural glass, windows, curtainwall, storefront and entrance systems, integrated project management and installation services, and high-performance coatings that provide protection, innovative design, and enhanced performance. For more information, visit www.apog.com.
Jeremy Steffan Vice President, Investor Relations & Communications 952.346.3502 ir@apog.com
Source: Apogee Enterprises
Key Terms
contingent earnout considerationfinancial
A contingent earnout consideration is a portion of the purchase price in a merger or acquisition that will be paid only if agreed future events or performance targets (like revenue, profit, or operational milestones) are met after closing. It matters to investors because it shifts part of the deal’s value into the future, affecting expected cash flows, the buyer’s balance sheet treatment, and how risk and incentives are shared between the buyer and the seller — like a bonus paid only if the business hits agreed goals.
anti-reflective coatingstechnical
Thin, engineered layers of material applied to glass or other surfaces to reduce unwanted reflections and glare by cancelling or redirecting light; they are used on lenses, displays, camera optics, and solar panels to increase light transmission and visual clarity. For investors, anti-reflective coatings matter because they can improve product performance, energy conversion or yield and affect manufacturing cost, product differentiation and market competitiveness—like putting an anti-glare filter on a screen to make the image clearer and more efficient.
