US-based Apogee Enterprises to acquire Latvian company Groglass

US-based Apogee Enterprises will acquire Groglass, a Latvian based manufacturer of high-tech glass coatings, for EUR 62.5 million. The transaction strengthens Apogee Enterprises’ position in its key global markets, enhancing its capabilities with Groglass’ unique glass coating technologies and strong research expertise.

Ellex Kļaviņš advised Apogee Enterprises throughout the entire transaction. Apogee Enterprises was also advised by Dorsey & Whitney LLP in connection with the transaction.  

Apogee Enterprises is a global leader in innovative coating materials and a provider of architectural and building products and services. Groglass develops and manufactures innovative anti-reflective and UV-protective glass coatings, which are widely used in museums, electronics, architecture and other industries around the world. 

The transaction has an enterprise value of EUR 62.5 million, of which EUR 10 million will be payable separately subject to Groglass achieving certain financial targets over a three-year period. The transaction is expected to close by November 2026. 

The Ellex in Latvia team was led by Partner Sarmis Spilbergs and Senior Associate Evija Ābele. The team also included Ellex in Latvia experts Zane Veidemane-Bērziņa, Anna Marta Riekstiņa, Eduards Dzintars, Ineta Kaņepe, Ints Skaldis, Kaspars Oļševskis, Paula Kellija and Pauls Ančs.