M&A Deal Summary

Apogee Acquires UW Solutions

On September 25, 2024, Apogee acquired chemicals company UW Solutions from Heartwood Partners for 240M USD

Acquisition Highlights
  • This is Apogee’s 1st transaction in the Chemicals sector.
  • This is Apogee’s largest (disclosed) transaction.
  • This is Apogee’s 2nd transaction in the United States.
  • This is Apogee’s 1st transaction in Kentucky.

M&A Deal Summary
Date 2024-09-25
Target UW Solutions
Sector Chemicals
Buyer(s) Apogee
Sellers(s) Heartwood Partners
Deal Type Add-on Acquisition
Deal Value 240M USD

Target

UW Solutions

Jeffersontown, Kentucky, United States
UW Solutions is vertically integrated manufacturer of high-performance coated substrates, differentiated by its proprietary formulations and coating application processes. The Company serves a broad range of customers in attractive end markets, including building products for distribution centers and manufacturing facilities, as well as premium products for the graphic arts market. UW Solutions is based in Jeffersontown, Kentucky.

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Buyer(S) 1

Buyer

Apogee

Minneapolis, Minnesota, United States
Category Company
Founded 1949
Sector Building Materials
Employees4,400
Revenue 1.4B USD (2024)
DESCRIPTION

Apogee provides distinctive solutions for enclosing buildings and framing art. The company is organized in four segments, with three of the segments serving the commercial construction market. The Architectural Glass segment consists of the leading fabricator of coated, high-performance architectural glass for global markets. The Architectural Services segment consists of one of the largest U.S. full-service building glass installation and renovation companies. The Architectural Framing Systems segment companies design, engineer, fabricate and finish the aluminum frames for window, curtainwall and storefront systems that comprise the outside skin of buildings. The Large-scale optical segment consists of a value-added glass and acrylic manufacturer primarily for the custom picture framing market. Apogee was founded in 1949 and is headquartered in Minneapolis, Minnesota.

DEAL STATS #
Overall 4 of 4
Sector (Chemicals) 1 of 1
Type (Add-on Acquisition) 3 of 3
State (Kentucky) 1 of 1
Country (United States) 2 of 2
Year (2024) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-01 EFCO

Monett, Missouri, United States

EFCO Corp. is a U.S. manufacturer of architectural aluminum window, curtainwall, storefront and entrance systems for commercial construction projects. EFCO is a leading U.S. manufacturer of architectural aluminum window, curtainwall, storefront and entrance systems for commercial construction projects. EFCO, founded in 1951, is headquartered in Monett, Missouri.

Buy $195M

Seller(S) 1

SELLER

Heartwood Partners

Norwalk, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1982
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Heartwood Partners is a private equity firm focused on partnerships with middle-market companies across the US. The Firm prefers to invest in family owned and managed companies where it can leverage strategic resources for long-term growth. Target companies are typically profitable with $5 to $30 million of EBITDA with up to $400 million in revenue. Sectors of interest include agriculture, automotive, consumer products, distribution, food, industrial services, niche manufacturing, packaging, and chemicals. Heartwood Partners was formed in 1982 and is headquartered in Norwalk, Connecticut.

DEAL STATS #
Overall 21 of 21
Sector (Chemicals) 2 of 2
Type (Add-on Acquisition) 8 of 8
State (Kentucky) 2 of 2
Country (United States) 21 of 21
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-09-16 Royal Products

Hauppauge, New York, United States

Royal Products manufactures and distributes branded metalworking performance accessories. The company optimizes the performance, productivity, and profitability of computer numerical control (“CNC”) machine tools. Royal Products is based in Hauppauge, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-05 The Norlee Group

Jacksonville, Florida, United States

The Norlee Group (NLG) specializes in electrical and specialty services for a wide range of projects across the United States. With a diverse portfolio that includes companies such as Adkins Electric, Colwill Enterprises, Millennium Electric, Tietjen CET Technologies, and Pacific Power & Systems, NLG provides expertise to clients in sectors such as public works, industrial, commercial, underground, multi-family, and technology. NLG serves an array of clients, from government entities and general contractors to property developers, corporations, and small businesses, delivering solutions tailored to their unique needs. The Norlee Group is based in Jacksonville, Florida.

Buy -
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