Glass Canada

News
Apogee acquires Alumicor


November 5, 2013
By Apogee Enterprises

alumicorNov. 5, 2013 – Apogee Enterprises has announced it has acquired 100 per cent of the stock of Toronto-based Alumicor , which
finishes and fabricates aluminum frames for window, storefront, entrance and curtainwall products for
the Canadian commercial construction industry, for approximately $52 million from majority shareholder
Fulcrum Capital Partners and six minority shareholders. Apogee provides distinctive value-added glass
solutions for the architectural and picture framing industries.

alumicorNov. 5, 2013 – Apogee Enterprises has announced it has acquired 100 per cent of the stock of Toronto-based Alumicor , which
finishes and fabricates aluminum frames for window, storefront, entrance and curtainwall products for
the Canadian commercial construction industry, for approximately $52 million from majority shareholder
Fulcrum Capital Partners and six minority shareholders. Apogee provides distinctive value-added glass
solutions for the architectural and picture framing industries.

“We are very pleased to acquire Alumicor, a Canadian market leader with annual revenues of
approximately $60 million and an impressive management team,” said Joseph F. Puishys, Apogee CEO. “Alumicor ideally complements Apogee’s growth strategies. It helps Apogee grow
geographically by expanding our presence in the Canadian non-residential market, and will also
contribute to growth through new product introductions.

Advertisment

“Alumicor is a growing company with operating margins consistent with the architectural framing systems segment, and we expect it to be accretive to Apogee’s earnings in fiscal 2015,” said Puishys.
“Alumicor serves both new construction and retrofit projects in the Canadian institutional and
commercial sectors. It is a brand known for quality and delivery, consistent with the strength of Apogee’s
other brands.”

“We are pleased to be joining forces with Apogee, a strong company that is also known for its leadership
and integrity in commercial construction markets,” said Larry Maker, Alumicor president. “We look
forward to working with Apogee to capitalize on opportunities to grow Alumicor and to leverage
synergies with our new sister companies.”

“This is the second acquisition Apogee has completed this fiscal year, the first being a custom window
company in Colorado,” said Puishys. “Along with our organic growth initiatives, this puts us well on our
way to exceeding our goal to be $1 billion in revenues by the end of fiscal 2016.”

Apogee funded the acquisition from cash. Alumicor will be a seventh stand-alone business in the Apogee
portfolio, reporting to Puishys. Its results will be incorporated in the architectural framing systems
segment, which includes Tubelite, a storefront, entrance and curtainwall company serving U.S. markets,
Wausau, a custom window and curtainwall company, and Linetec, a finishing company.

About Alumicor

Alumicor, headquartered in Toronto and with facilities in Toronto, Manitoba, Quebec and Nova
Scotia, was founded in 1959. The designer, finisher and supplier of architectural aluminum building
envelope products, including storefront, entrance, window and curtainwall framing systems, has
approximately 300 employees. Alumicor drives innovation with products and manufacturing
capabilities that respond to the evolving needs of the architectural and building community. It is known
for its technical competence, responsiveness and integrity. With a commitment to sustainable design
through the use of recycled aluminum, Alumicor is positioned to support green building projects and
LEED eligibility.

About Fulcrum Capital Partners

Fulcrum Capital Partners, Vancouver, British Columbia, and Toronto, Ontario, Canada, is a leading
private investment management firm providing flexible private equity and mezzanine financing to
Canadian middle-market companies. Fulcrum Capital manages two private equity funds with $350
million in committed capital, and a mezzanine finance business in excess of $400 million in
committed capital.

About Apogee Enterprises

Apogee Enterprises, 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. The Architectural Glass segment consists of Viracon, the leading fabricator of coated, high-performance architectural glass for global markets. The Architectural Services segment consists of Harmon., one of the largest U.S. full-service building glass installation and renovation companies. The Architectural Framing Systems segment businesses design, engineer, fabricate and finish 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. The Large-Scale Optical segment consists of Tru Vue, a value-added glass and acrylic manufacturer
primarily for the custom picture framing market.

Related links

alumicor.com

apog.com


Print this page

Related



Leave a Reply

Your email address will not be published. Required fields are marked *

*