ARRAY Technologies to Acquire Affordable Wire Management (AWM), Creating New Growth Platform in Balance-of-System Solutions

ARRAY Technologies to Acquire Affordable Wire Management --> Accessibility: Skip TopNav ARRAY Technologies to Acquire Affordable Wire Management (AWM), Creating New Growth Platform in Balance-of-System Solutions Strategic acquisition adds high-margin cable management products and extends ARRAY’s reach across utility-scale solar, distributed generation, BESS, and datacenter applications July 16, 2026 16:30 ET | Source: Array Technologies, Inc. Array Technologies, Inc. Adds a highly complementary, accretive balance-of-system product portfolio spanning solar wire management, cable protection solutions, and battery energy storage solutions (BESS) Creates new growth opportunities in fast-growing adjacencies including BESS and datacenter infrastructure Total Consideration of approximately $203 million represents an attractive multiple of 8.8x AWM's trailing twelve-month EBITDA Expected to be high single digit accretive to ARRAY's Adjusted EPS in year one before synergies Closing expected in the third quarter of 2026, subject to regulatory clearance and customary closing conditions ALBUQUERQUE, N.M., July 16, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology and fixed-tilt products, foundation solutions, software systems and services, today announced it has entered into a definitive agreement to acquire Affordable Wire Management, LLC ("AWM"), a leading provider of wire management, cable protection, and balance-of-system solutions for utility-scale solar and energy storage projects. The acquisition further expands ARRAY’s portfolio of solutions for utility-scale solar customers while creating new growth opportunities in battery energy storage and datacenter markets. AWM’s products organize, secure, and protect electrical wiring to improve system reliability, safety, installation efficiency, and long-term performance. The company has developed proprietary designs that offer greater durability, enhanced thermal management, and lower resistive losses than conventional solutions. With nearly $60 million trailing twelve months revenue, AWM has built a track record of profitable growth, based on a capital-light operating model and a culture of innovation. The acquisition of AWM is expected to be high single digit accretive to ARRAY’s Adjusted EPS in year one before synergies. "The acquisition of AWM will further broaden our balance-of-system portfolio and deepen our relevance to our customers as well as create new growth vectors for us in the BESS and datacenter markets," said Kevin G. Hostetler, Chief Executive Officer of ARRAY. “AWM brings a proven, innovative product line and a strong reputation for quality and customer service. Together, we will be able to offer a more complete, integrated solution to our customers across the solar, battery storage, and datacenter markets." "Becoming part of ARRAY is a tremendous opportunity for our team and our customers," said Scott Rand, Chief Executive Officer and Co-Founder of AWM. "ARRAY’s scale, customer relationships, and global reach will make this the ideal home for our team and our products. We share a culture of innovation and a relentless focus on the customer, and that alignment will unlock real value for customers across solar, storage, and beyond.” “Differentiating through engineering has always been at the core of how we design our products,” said Dan Smith, Chief Technology Officer and Co-Founder of AWM. “By bringing our wire management and balance-of-system products together with ARRAY’s tracking, fixed-tilt, and foundation platform, we can deliver various integrated solutions engineered to work together – simplifying design, improving installation, and reducing costs for our customers." Following the closing of the acquisition, AWM’s financial results will be included in the ARRAY Legacy segment. AWM's senior management team is expected to remain with the business following the closing. Transaction Terms The total consideration of AWM is $203 million, together representing a multiple of approximately 8.8x AWM’s trailing twelve-month EBITDA. The total consideration consists of a base purchase price of AWM of $153 million and total additional consideration of up to $50 million. The final amount of upfront cash consideration will be determined at closing subject to customary purchase price adjustments. The additional consideration of up to $50 million is comprised of $10 million payable in two equal installments on the first and second anniversary of the closing, each conditioned on the continued employment of the sellers and a performance based earnout of up to $40 million payable in three installments of up to $8 million based on 2026 performance and up to $16 million for each 2027 and 2028 performance years based on AWM’s achievement of certain EBITDA targets during the applicable period. Both components of the earnout may be paid in cash or ARRAY common stock at ARR