Apogee Enterprises, Inc. a leading provider of architectural building products and services, as well as high-performance coated materials used in a variety of applications, has entered into a definitive agreement to acquire GroGlass SIA for up to EUR 62.5 million on a cash-free, debt-free basis, subject to customary closing conditions. The purchase price includes up to EUR 10 million payable over 3 years dependent upon GroGlass achieving certain financial targets.
GroGlass, based 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. The company employs 190 people, combining strong research and development capabilities with specialized manufacturing expertise. GroGlass’ product portfolio includes premium brands such as Artglass, which are recognized for their exceptional optical clarity and durability.
Apogee plans to integrate GroGlass into its Performance Surfaces Segment. GroGlass will enhance the segment’s coatings and materials science capabilities while expanding its product offerings and geographic reach to further strengthen Apogee’s long-term growth and profitability profile.
COBALT’s M&A team is acting as seller-side legal counsel in connection with the sale of Groglass to Apogee Enterprises, providing comprehensive legal support throughout the transaction, including the preparation and negotiation of the transaction documentation, and continues to advise on matters relating to the closing process. The team is led by Partner Guntars Zīle and Specialist Counsel Elīna Ločmele and includes Specialist Counsel Andrejs Lielkalns, Senior Associate Diāna Zepa and Junior Associate Kārlis Ošs.
Oaklins is acting as the seller’s financial adviser in connection with the transaction.
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