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Albuquerque’s Array Technologies completes $179 million acquisition of APA Solar
The Array Technologies office in Albuquerque. The company announced last week that it had closed its acquisition of APA Solar.
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Array Technologies has completed its $179 million acquisition of APA Solar, an Ohio-based company that produces solar racks and other foundation infrastructure.
The Albuquerque-based solar tracking technology manufacturer announced the transaction in June, marking Array’s first push in expanding beyond manufacturing tracker components.
“This is a pivotal moment for Array,” Array CEO Kevin Hostetler said in a statement. “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.”
The completed acquisition of APA Solar this month follows a second-quarter earnings call in which company officials reported $362.2 million in revenue, beating analyst expectations.
Array’s strong performance in the first half of the fiscal year convinced the company to raise its revenue outlook from a high of $1.15 billion to $1.22 billion for the remainder of 2025, officials said at the time.
The acquisition is expected to improve Array’s earnings, company officials said. The company plans to update its full-year guidance to reflect the transaction’s impact on its third-quarter earnings call.
“We’re thrilled to join forces with Array,” APA Solar CEO Josh Von Deylen said. “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.”
Shares of Array closed at $6.08 Thursday when the announcement was made — up 1.33% on the day but down 9.79% year to date.
