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Private Equity | Other Industries

GroGlass has been acquired by Apogee Enterprises

September 2026 — Apogee Enterprises, Inc. (Nasdaq: APOG), a leading US provider of architectural building products, services and high-performance coated materials, has acquired GroGlass, a Latvia-based developer and manufacturer of high-performance anti-reflective and UV-protective glass coatings. The acquisition brings GroGlass’ differentiated coating technologies and materials science expertise into Apogee’s performance surfaces segment, broadening its product offering and market reach while expanding its manufacturing and R&D presence in Europe.

GroGlass, based in Riga, Latvia, is a leading provider of high-performance glass surface solutions, specializing in anti-reflective and other advanced coatings used in display, architectural and technical applications. Its portfolio includes premium brands recognized for superior optical clarity and durability, serving customers across global end markets such as museums, electronics and architectural design. With a strong foundation in materials science and coating technologies, GroGlass combines innovation, quality and long-standing customer relationships to deliver differentiated solutions. The company employs around 190 people at its research and production base in Riga.

Headquartered in Minneapolis, Minnesota, USA, Apogee Enterprises, Inc. is a publicly listed company providing architectural building products and services, as well as high-performance coated materials across a range of applications, including architectural glass, windows, curtain walls, storefront and entrance systems, integrated project management and installation services and advanced coatings. With approximately US$1.4 billion in annual net sales, Apogee has established a strong market position serving customers across a broad range of end markets and geographic regions.

Kartesia is a pan-European specialist provider of financing solutions, offering customized resources across the capital structure to leading mid-market companies across a wide range of industries. The firm manages over US$8.6 billion in assets and is supported by a team of 130 experienced investment and operating professionals. It has offices in Amsterdam, Brussels, London, Luxembourg, Madrid, Milan, Munich and Paris.

Our role in the transaction

Oaklins’ team in Latvia acted as the exclusive sell-side advisor to Kartesia, GroGlass’ founder and management team, supporting the sale of 100% of the company. The team managed the full transaction process, from investor identification and marketing through negotiations and due diligence to the successful closing with Apogee Enterprises.

Parties
“Joining Apogee marks an important next chapter for GroGlass, giving us the opportunity to become part of a financially strong, publicly listed company with a long track record of investing in innovation, operational excellence and people. It will provide GroGlass with additional resources, expertise and global opportunities to support our continued growth. Throughout this process, the Oaklins team has been a highly professional and trusted advisor. Their expertise, commitment and practical guidance were invaluable at every stage of the transaction, and I am very grateful for their support throughout the journey.”

Sergejs Kostjučenko

Senior vice president of EMEA, GroGlass

Talk to the deal team

Reinholds Razums

Associate Partner
Riga, Latvia
Oaklins Baltics

Valērija Lieģe

Partner
Riga, Latvia
Oaklins Baltics

Luīze Mestere

Associate
Riga, Latvia
Oaklins Baltics

Rihards Bilzens

Senior Analyst
Riga, Latvia
Oaklins Baltics

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