Building operational excellence that enabled a strategic exit with a premium valuation

UW Solutions is a vertically integrated performance coated materials manufacturer, specializing in applying high-performance coatings to various substrates including metals, wood, and plastics. With revenue exceeding $100 million, the company serves diverse end markets including commercial architectural applications and high-growth industrial warehousing sectors. UW operates through multiple international locations with manufacturing facilities, sales offices, and R&D capabilities that enable both domestic and global market reach.

UW Solutions management and pervious ownership sought a growth partner capable of supporting the company’s transformation from a regional player into a sophisticated, technology-driven manufacturer, all while maintaining the company’s longstanding culture of innovation . In order to achieve this goal, management realized they required a financial partner to assist in substantial capacity expansion, operational improvements and senior team expansion They were attracted to Heartwood Partners’ experience in making these types of changes in partnership with management and without relying heavily on financial engineering / substantial leverage.

Heartwood Partners worked with UW management to execute a comprehensive transformation strategy over their five-year partnership. Key initiatives included:

• Capacity Expansion & Operational Excellence: Supported the construction and implementation of a new $15+ million, state-of-the-art automated 179,000 square foot manufacturing facility, incorporating lean manufacturing processes that significantly improved capacity, efficiency and customer responsiveness.
• Vertical Integration: Supported the acquisition of R&D Coatings, the company’s primary supplier of coatings, which allowed the company to bring its coating formulations and production in house.
• Technology Infrastructure: Coordinated the upgrade of UW’s ERP system, providing better operational visibility and scalability to support growth objectives.
• Management Development: Facilitated the recruitment and development of a top-tier professional management team capable of executing at scale and managing complex strategic initiatives.

These investments positioned UW Solutions as an attractive strategic acquisition target, ultimately resulting in an unsolicited approach from Apogee Enterprises, a provider of architectural building products and high performance coated materials used in a variety of applications. In November 2024, Apogee acquired the company for $242 million. The transaction delivered strong returns for all stakeholders while preserving UW’s operations, brands, and employment in Louisville, KY.  The deal was recognized as M&A Advisors’ Specialty Materials 2025 Deal of the Year, validating the strategic and operational transformation executed during Heartwood’s ownership.