Array Technologies and Shoals Technologies agree all‑stock merger
Array Technologies and Shoals Technologies announced an all‑stock merger in which Shoals shareholders will receive 1.6931 Array shares per share, giving them about 65% of the combined company. The transaction, led by Shoals CEO Brandon Moss, is slated to close in the first quarter of 2027. The combined entity projects 2027 revenue of $2.2‑$2.4 billion and adjusted EBITDA of $410‑$480 million. Both companies reported strong Q3 2026 results, with Array posting $330.2 million revenue and Shoals $195.3 million revenue, up 43.8% YoY.
Why it matters
The merger creates a larger integrated solar‑tracking platform and is expected to generate $100 million of annual synergies, which could improve free cash flow for shareholders. Array also plans to redeem $317.5 million of preferred stock, simplifying the capital structure of the combined company.
Key facts
- 1Shoals shareholders will receive 1.6931 Array shares per Shoals share. investing.com
- 2The deal values Shoals at $1.32 billion. investing.com
- 3Shoals investors are expected to own approximately 65% of the combined company. investing.com
- 4Closing is expected in the first quarter of 2027. investing.com
- 5Brandon Moss will lead the merged entity. investing.com
- 6Combined 2027 revenue projected at $2.2‑$2.4 billion and adjusted EBITDA at $410‑$480 million. investing.com
Summary written by AlphAI AI Desk from 5 of 5 sources. Not investment advice. Figures are as stated by the linked sources.