Apogee Enterprises, Inc. (APOG), a provider of architectural building products and services, Thursday announced that it has agreed to acquire Kalwall Companies from the Keller family for up to $115 million, on a cash free and 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 the Apogee's existing credit facility.
Kalwall is a manufacturer of high-performance translucent daylighting solutions and Apogee intends to integrate Kalwall into its Architectural Glass segment to create a high-performance substrate offering for building envelope solutions.
The deal is expected to be accretive to Apogee's adjusted diluted EPS in the first year.
Further, Apogee anticipates the integration plan to provide $4 million of operational cost synergies by the end of fiscal 2029 and surmises the acquisition to contribute $85 million of revenue with an adjusted EBITDA margin of approximately 15 percent within the first 12 months of ownership with a long-term margin target of 20 percent.
The transaction is expected to close in the second quarter of fiscal 2027.
In pre-market activity, APG shares were trading at $38.56, up 2.55% on the Nasdaq.
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