Apogee Enterprises Inc bought Alumicor Limited from majority owner Fulcrum Capital Partners and six minority stakeholders. The all-cash deal was estimated to be worth USD 52 million. Apogee is a Minneapolis-based firm that gives glass solutions to companies in the architectural and picture framing industries. Alumicor provides finishing and fabrication services of aluminum frames for window, entrance, storefront and curtainwall products. It serves clients in the commercial construction industry in Canada.
Apogee Chief Executive Officer Joseph F. Puishys said he is pleased with the acquisition. "We are very pleased to acquire Alumicor, a Canadian market leader with annual revenues of approximately C$60 million and an impressive management team. 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," he said.
Puishys added that Alumicor was its second purchase for the fiscal year. A Colorado-based custom window company was its first acquisition for 2013.
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