sa国际传媒官网网页入口鈥檚 Array Technologies completes $179 million acquisition of APA Solar
The Array Technologies office in sa国际传媒官网网页入口. The company announced last week that it had closed its acquisition of APA Solar.
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Array Technologies has completed its $179 million acquisition of APA Solar, an Ohio-based company that produces solar racks and other foundation infrastructure.
The sa国际传媒官网网页入口-based solar tracking technology manufacturer announced the transaction in June, marking Array鈥檚 first push in expanding beyond manufacturing tracker components.
鈥淭his is a pivotal moment for Array,鈥� Array CEO Kevin Hostetler said in a statement. 鈥淭ogether, we will accelerate the deployment of utility-scale and distributed solar energy by offering a more comprehensive and flexible portfolio of solutions to a broader range of customers.鈥�
The completed acquisition of APA Solar this month follows a second-quarter earnings call in which company officials reported $362.2 million in revenue, beating analyst expectations.
Array鈥檚 strong performance in the first half of the fiscal year convinced the company to raise its revenue outlook from a high of $1.15 billion to $1.22 billion for the remainder of 2025, officials said at the time.
The acquisition is expected to improve Array鈥檚 earnings, company officials said. The company plans to update its full-year guidance to reflect the transaction鈥檚 impact on its third-quarter earnings call.
鈥淲e鈥檙e thrilled to join forces with Array,鈥� APA Solar CEO Josh Von Deylen said. 鈥淥ur shared values and complementary capabilities make this a natural fit. This transaction will allow us to scale faster, drive more transformative innovation, and deliver even greater value to our customers.鈥�
Shares of Array closed at $6.08 Thursday when the announcement was made 鈥� up 1.33% on the day but down 9.79% year to date.
