Apogee Enterprises (NASDAQ:APOG) has announced a definitive agreement to acquire UW Interco from Heartwood Partners for $240 million in cash.
This transaction, pending customary closing conditions, is slated to finalize in the third quarter of fiscal 2025.
UW Solutions, the business segment being acquired, is a leading U.S. manufacturer known for its high-performance coated substrates.
The company distinguishes itself with proprietary formulations and advanced coating application processes.
Its customer base spans diverse and attractive end markets, including building products for distribution centers and manufacturing facilities, as well as premium offerings for the graphic arts market.
Apogee plans to integrate UW Solutions into its Large-Scale Optical segment.
This strategic move is aimed at creating a scalable growth platform within the specialty coatings and materials market.
Apogee anticipates this integration will yield operational cost synergies estimated at $5 million by the end of fiscal 2027.