Apogee Enterprises has agreed to acquire Kalwall Companies from the Keller family for up to $115 million on a cash-free, debt-free basis. The deal includes an initial cash payment of $105 million at closing and a potential earnout of up to $10 million tied to financial performance through the end of Apogee's fiscal 2027 third quarter. Management expects the acquisition to close during the second quarter of fiscal 2027 and believes it will enhance Apogee's portfolio and expand its capabilities in the building products market. Apogee also provided fiscal 2027 guidance on April 24, forecasting revenue between $1.38 billion and $1.43 billion, with approximately $10 million in interest expense, an adjusted effective tax rate of 26% to 27%, and capital expenditures of $35 million to $40 million.
Apogee Enterprises IncApogee acquires Kalwall for up to $115M, enhancing portfolio and capabilities.
Kalwall is acquired by Apogee, providing an exit for the Keller family.