Apogee Acquires Window Company
Apogee Acquires Window Company
MINNEAPOLIS--(BUSINESS WIRE)-- Apogee Enterprises, Inc. (NAS: APOG) announced today that its Apogee Wausau Group, Inc. subsidiary, doing business as Wausau Window and Wall Systems, has acquired the assets of Benchmark Sales Agency, Inc., doing business as Custom Window Company, Inc., to expand Wausau's product offering and U.S. geographic reach. Terms of the purchase were not disclosed.
"Wausau's purchase of Custom Window supports Apogee's strategy to grow our architectural framing systems segment through geographic expansion, new products and domestic acquisition. It presents an opportunity to better serve customers and prospects in the Western U.S. and the historical renovation market throughout the country," said Joseph F. Puishys, Apogee chief executive officer.
Privately held, Custom Window was founded in 1981 in Englewood, CO. It has grown to become a leading U.S. manufacturer of historically accurate, aluminum window products that account for annual revenues of approximately $10 million; it has more than 100 employees.
Custom Window's unique product offering includes:
- Regionally appropriate, projected windows for the competitive K-12 school market and low-rise office applications;
- Patented, self-balancing double-hung windows designed for occupants to enjoy both large openings and easy operation; and
- Historically accurate window systems with true divided lite muntins, addressing stringent aesthetic requirements for historic preservation projects.
Wausau Window and Wall Systems engineers and fabricates high-performance window and curtainwall systems for commercial buildings with a focus on the education, health care and government markets, including historic renovations.
About Apogee Enterprises
Apogee Enterprises, Inc., headquartered in Minneapolis, provides distinctive solutions for enclosing commercial buildings and framing art. The company is organized in four segments, with three of the segments serving the commercial construction market:
- Architectural Glass segment consists of Viracon, the leading fabricator of coated, high-performance architectural glass for global markets.
- Architectural Services segment consists of Harmon, Inc., one of the largest U.S. full-service building glass installation and renovation companies.
- Architectural Framing Systems segment businesses design, engineer, fabricate and finish the aluminum frames for window, curtainwall and storefront systems that comprise the outside skin of buildings. Businesses in this segment are: Wausau Window and Wall Systems, a manufacturer of custom aluminum window systems and curtainwall; Tubelite, a fabricator of aluminum storefront, entrance and curtainwall products; and Linetec, a paint and anodizing finisher of window frames and PVC shutters.
- Large-Scale Optical segment consists of Tru Vue, a value-added glass and acrylic manufacturer primarily for the custom picture framing market.
The discussion above contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect Apogee management's expectations or beliefs as of the date of this release. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified by factors that may affect the operating results of the company, including the following: (A) operational risks: i) the cyclical nature and market conditions of the North American and Latin American commercial construction industries, which impact our three architectural segments; ii) consumer confidence and the conditions of the U.S. economy, which impact our large-scale optical segment; iii) actions of competitors or new market entrants; iv) ability to fully and efficiently utilize production capacity; v) product performance, reliability, execution or quality problems; vi) installation project management issues that could result in losses on individual contracts; vii) changes in consumer and customer preference, or architectural trends and building codes; and viii) dependence on a relatively small number of customers in certain business segments; (B) financial risks: i) revenue and operating results that are volatile; and ii) financial market disruption which could impact company, customer and supplier credit availability; (C) self-insurance risk related to a material product liability or other event in which the company is liable; (D) cost of compliance with environmental regulations; and (E) potential impact on financial results if one or more senior executives were no longer active with the company. The company cautions investors that actual future results could differ materially from those described in the forward-looking statements, and that other factors may in the future prove to be important in affecting the company's results of operations. New factors emerge from time to time and it is not possible for management to predict all such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or a combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. For a more detailed explanation of the foregoing and other risks and uncertainties, see Item 1A of the company's Annual Report on Form 10-K for the fiscal year ended March 2, 2013.
Apogee Enterprises, Inc.
Mary Ann Jackson, 952-487-7538
KEYWORDS: United States North America Colorado Minnesota
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