Apogee Enterprises, Inc. has completed the acquisition of SIA "GroGlass" (Groglass), a Latvian limited liability company specializing in high-performance glass surface solutions. The transaction was finalized on September 18, 2026, following the satisfaction of customary closing conditions.
Under the Share Purchase Agreement dated September 2, 2026, Apogee’s wholly owned subsidiary, Tiger MergeCo SIA, acquired all outstanding equity interests of Alzette and its subsidiaries, including GroGlass.
The transaction was valued at approximately €62.5 million on a cash-free, debt-free basis. The final purchase price is subject to adjustments defined in the agreement and includes contingent consideration. The maximum contingent consideration payable under the earnout provisions is €10 million, which may become due based on the achievement of specified financial performance targets over a three-year period following closing.
Apogee funded the acquisition using available cash and borrowings under its existing revolving credit facility. The company noted that the closing of the Groglass acquisition represents a milestone in its strategy, as the company believes the acquisition brings differentiated technology, a strong brand, and deep expertise in premium anti-reflective coatings that complement its Performance Surfaces portfolio.
Groglass is headquartered in Riga, Latvia, and serves global end markets such as museums, electronics, and architectural design. Its portfolio includes premium brands recognized for superior optical clarity and durability.
