The purchase structure involves an initial $153 million cash payment, supplemented by $10 million in deferred installments over the following two years. An additional $40 million performance-based earnout rounds out the total consideration, payable at the buyer's discretion in either cash or stock. CEO Kevin Hostetler cited the target company’s specialized cable protection and balance-of-system solutions as key drivers for the integration, which the company expects to be accretive to adjusted earnings within the first year of operation.
In section Market Quotes
Array Technologies Expands Solar Portfolio with $203 Million AWM Buyout
Solar tracking manufacturer Array Technologies has moved to acquire Affordable Wire Management in a deal valued at $203 million. The transaction, slated to close in the third quarter, aims to bolster Array’s utility-scale offerings while providing a strategic foothold in the burgeoning battery storage and data-center infrastructure markets.
Following the announcement, Array’s stock saw a modest 1.1% lift to $6.32 in after-hours trading. By absorbing AWM’s product line, Array intends to streamline its supply chain and cross-sell integrated systems to a broader client base spanning renewable energy and critical power facilities.
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