ARRAY Technologies and Shoals Technologies Group Announce Transformative Merger, Creating an Integrated Energy Infrastructure Platform
Globe Newswire•04/11/2026•07:00 ET
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Key Highlights
- ➤ARRAY-Shoals agree to stock-for-stock merger, with Shoals shareholders owning approximately 65%
- ➤Combined company projects 2027 revenue of $2.2B-$2.4B and Adjusted EBITDA of $410M-$480M
- ➤Merger targets more than $100M of annual Adjusted EBITDA synergies within three years
- ➤ARRAY commits to redeem $317.5M of Preferred Stock under agreed terms
- ➤Transaction expected to close in Q1 2027, subject to shareholder and regulatory approvals
Expert Statements
Brandon Moss, Chief Executive Officer of Shoals
“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”
Kevin Hostetler, Chief Executive Officer of ARRAY
“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”
Brad Forth, Chairman of the Board of Directors of ARRAY and Shoals
“Having had the privilege of serving as Chairman of both ARRAY and Shoals, I have seen firsthand the complementary products, talented teams and shared commitment to customers offered by both companies. Together, ARRAY and Shoals are well positioned to deliver enhanced value to customers, shareholders and employees. I also want to thank Kevin for his leadership and important contributions to ARRAY, as well as his valuable insights as he transitions to a Special Advisor role. I look forward to continuing to work with Brandon, who brings proven leadership, deep industry expertise and strategic vision to lead the combined company in this next phase of growth.”
* Combines market-leading product portfolios and proven engineering capabilities to deliver a differentiated offering that simplifies project execution, reduces installation cost and enhances long-term system performance
* Reinforces both companies’ competitive positions in solar and creates the scale to pursue new growth opportunities in battery storage, data center infrastructure and other high-growth adjacencies
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