Apogee Purchases Canadian Curtainwall CompanyDecember 16th, 2016 | Category: Featured News, Industry News
Apogee Enterprises Inc. acquired the assets of privately-held Sotawall Inc., a Canadian designer and fabricator of unitized curtainwall systems, for approximately $135 million. It will operate as Sotawall Limited within Apogee.
Joseph F. Puishys, CEO of Apogee, said in a conference call Thursday that the company “couldn’t be more excited” about the purchase, noting Sotawall’s “strong customer relationships, stellar management team and stellar employee group.”
According to Puishys, Sotawall has been a customer of Apogees’s architectural glass business, Viracon, for more than 20 years. He said the addition of the company will expand Apogee’s geographical presence in areas “where we have not been strong,” including Canada and the Northeast region of the U.S. It will also allow Sotawall to target markets in which it is not currently competing.
“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,” Juan Speck, president, owner and founder of Sotawall, said in a statement. “We look forward to working with Apogee to capitalize on opportunities to grow Sotawall Limited.”
Sotawall is Apogee’s eighth independent operating unit and will be reported as part of its architectural framing systems segment. The new unit will be included in its fiscal 2018 financial reports.
Puishys said Apogee doesn’t need to make any significant capital investments into Sotawall, as Speck has already “invested heavily” into its primary Toronto facility. “They’ve made significant investments in automation,” he said. “It’s a new facility, pristine and well-run.”