Apogee Enterprises agrees to acquire Kalwell

GaryPageau ,
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Apogee Enterprises, Inc., the parent company of Chromaluxe, a provider of architectural building products and services, agreed to acquire Kalwall Companies from the Keller family for up to $115 million on a cash-free, debt-free basis. As per the agreement, the purchase price consists of $105 million cash at close, and up to $10 million cash will be contingent on the financial performance of the company through the end of the third quarter of fiscal 2027. The transaction will be funded using cash and Apogee’s existing credit facility.

Kalwall is a manufacturer of high-performance translucent daylighting solutions; Apogee intends to integrate Kalwall into its Architectural Glass segment to create a high-performance substrate offering for building envelope solutions.

The integration plan is expected to provide $4 million of operational cost synergies by the end of fiscal 2029. The acquisition is expected to contribute $85 million of revenue with an adjusted EBITDA margin of approximately 15% within the first 12 months of ownership with a long-term margin target of 20%.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.