Array Technologies Acquires APA Solar, Expands Renewable Energy Portfolio

Array Technologies completed its acquisition of APA Solar, expanding its product portfolio and enhancing its ability to serve a broader range of utility-scale and commercial solar projects. The acquisition is expected to be accretive to Array's earnings and offers significant commercial synergies, further accelerating the deployment of solar energy solutions.

Array Technologies (NASDAQ: ARRY), a leading global provider of solar tracking technology products, software, and services, has completed the acquisition of APA Solar (NASDAQ: APA), a premier solar racking and structural solutions provider. This strategic acquisition strengthens ARRAY's position as a global leader in renewable energy infrastructure and expands its product portfolio to better serve the evolving needs of the solar industry and its customers.

The acquisition positions ARRAY to deliver fully integrated tracker and engineered foundation solutions for the solar industry. APA, known for its tracker-compatible engineered foundation systems and robust fixed-tilt racking systems, will continue to operate under its brand as a strategic business unit within ARRAY Technologies.

According to Kevin G. Hostetler, chief executive officer at ARRAY Technologies, "This is a pivotal moment for ARRAY. APA brings a strong track record of innovation, customer service, and engineering excellence. Together, 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."

Josh Von Deylen, chief executive officer at APA, expressed his enthusiasm for the partnership, stating, "We’re thrilled to join forces with ARRAY. Our 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."

The acquisition is expected to be accretive to ARRAY's earnings, with significant opportunities for commercial synergies, and will enhance the ability of ARRAY to serve a broader range of utility-scale and commercial solar projects across North America and beyond. ARRAY anticipates updating its full-year guidance to reflect the impact of APA on its third quarter earnings call.

Joe Von Deylen, chief operations officer at APA, noted, "By combining APA’s engineering expertise with ARRAY’s global reach and resources, we’re poised to make a significant impact on the future of clean energy."

Advisors & Additional Resources
Jefferies LLC acted as exclusive financial advisor and Kirkland & Ellis acted as legal advisor to ARRAY. Donelly Penman & Partners acted as exclusive financial advisor, and Rupp, Hagans & Bohmer, LLP and Eastman & Smith as legal advisors to APA.

For more information regarding the transaction, a Current Report on Form 8-K will be filed by ARRAY with the U.S. Securities and Exchange Commission (the “SEC”).

References:
[1] https://www.globenewswire.com/news-release/2025/08/14/3133899/0/en/array-technologies-completes-acquisition-of-apa-solar.html
[2] https://seekingalpha.com/article/4812152-apa-corp-getting-leaner-and-meaner