M&A
confidence high
sentiment positive
materiality 0.80
Array buys APA Solar for $210M; expands into engineered foundations, expects EPS accretion
Array Technologies, Inc.
- Base purchase price $210M comprising $168M upfront cash and $42M deferred consideration payable in two installments.
- Enterprise value ~$179M, 7.6x trailing 12M EBITDA ($25M) excluding 45X credits.
- APA designs and manufactures solar racking and foundation solutions; adds domestic Ohio manufacturing.
- Closing expected Q3 2025 subject to HSR approval and customary conditions.
- Deal expected to be high-single-digit accretive to Adjusted EPS in year one before synergies.