Solar Tracker supplier Array Technologies has signed an agreement to acquire the solar racking company APA Solar based in Ohio for $ 179 million.
Array Technologies has concluded an agreement to acquire the Zonne-Racking company APA Solar, based in Ohio, in a deal with a value of $ 179 million, excluding 45x tax credits.
After closing the acquisition, expected in the third quarter of 2025, Array Technologies said it will start an integrated tracker and foundation system and APA Solar’s Foundation Systems will continue to offer for other tracker systems and fixed stretch products.
Array Technologies CEO Kevin G. Hostetler said that the deal is “a strategic move that strengthens our possibilities and expands the value that we deliver to our customers.” The company also emphasized the domestic content for the offer of Tracker and Foundation System, which are manufactured in Ohio.
The deal depends on the continuous employment of APA Solar’s Chief Executive Officer Josh full of Deylen and Chief Operating Officer Joe von Deylen. Array Technologies said that the rest of the Senior Management Team of APA Solar will remain at APA after the closure of the acquisition and a new “Foundation Solutions Business” from Array technologies. At the end of Q1 2025, APA reported that it had more than 200 employees.
APA Solar is a family business that was founded in 2008 as a spin-off from its car company Alex Products. The company was founded during a decline in the production of car tires when the company decided to use the expertise in the field of production and automation to serve the rising solar market.
In March, APA Solar Invested $ 19.5 million To build a new head office and production facility in Ohio. Array Technologies said that APA’s head office and the most important production activities will continue to be in Rideville Corners, Ohio.
New Mexico headquarters Array Technologies is one of the Top three suppliers of Zonne -Trackers In the United States, according to Wood Mackenzie.
Array Technologies has previously said that it is committed to domestic purchasing and production, and in 2022 an agreement announced with TubeA manufacturer of mechanical and structural steel hose to attach a new steel factory to Texas. Final joint tube also produces steel hose for Array at a coupling tube mill in South Bend, Indiana.
Array Technologies is a 30-year-old tracker specialist who became public three years ago. In 2022, the company took over the European tacker company Sti Nordland, which expanded its geographical footprint. Array has since expanded to South and Central America.
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