Apogee Enterprises Inc. (Nasdaq: APOG) has reached a deal to acquire all of EFCO Corp., a manufacturer of windows and curtain walls, from Pella Corp for approximately $195 million. The deal aligns with Apogee’s growth strategy, structuring the target as an independent operating unit under the buyer.
EFCO is a U.S. distributor of architectural aluminum windows, curtainwalls, and storefront entrance systems for the commercial construction industry. The Des Moines, Iowa-based target was founded in 1951 and generates more than $250 million in revenue annually. EFCO has additional manufacturing facilities in Missouri, Illinois and Virginia. Pella Corp. has owned the company since 2007.