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ARRAY Technologies and Shoals plan to merge companies

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ARRAY Technologies and Shoals plan to merge companies

Solar tracker and racking manufacturer ARRAY Technologies and electrical balance of systems (eBOS) provider Shoals Technologies have initiated a stock-for-stock merger to combine both companies.

“This transaction represents a compelling opportunity to create meaningful value for customers of both ARRAY and Shoals by bringing together our complementary strengths. Although structural and electrical systems must operate seamlessly together in the field, they have historically been designed and sourced through separate channels. This combination changes that. Together, we expect to deliver a differentiated, technically integrated and interoperable platform that simplifies project execution, enhances project economics and accelerates innovation for customers,” said Kevin Hostetler, CEO of ARRAY.

According to the press announcement, ARRAY will be Shoals’ parent company after the transaction, with Shoal’s CEO Brandon Moss assuming the role as CEO for the overall company. ARRAY’s CEO Kevin Hostetler will transition to a special advisor role for the company.

“Today marks an important milestone for Shoals, ARRAY and the customers we serve. By bringing together two highly complementary businesses with experienced teams, we are creating an integrated platform with broader capabilities, deeper customer relationships and a stronger foundation for long-term growth. We believe the combined company will be positioned to better service customers, deliver more innovative and integrated solutions, realize meaningful synergies and pursue expansion opportunities across the solar value chain, data center markets and beyond,” said Brandon Moss, CEO of Shoals.

The companies plan to create packaged warranties across their structural and eBOS products. As manufacturers, both ARRAY and Shoals have supplied their products to solar and energy storage projects globally.


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