Solar tracking leader Array Technologies on Wednesday announced it will acquire APA Solar LLC, a specialist in engineered foundation systems for solar installations, in a transformative $179 million deal that will fuse two key pieces of solar infrastructure into a single, integrated offering.
The deal, expected to close in Q3 2025, will allow Array to combine its flagship solar tracker technology with APA’s fixed-tilt mounting systems and custom foundation solutions, creating a vertically integrated powerhouse primed to support solar deployment in even the most unforgiving terrains.
Deal Breakdown and Legal Advisors
The transaction carries an enterprise value of $179 million, including $168 million in upfront cash and $42 million in deferred consideration, offset by $31 million in anticipated tax benefits from the deal.
Kirkland & Ellis LLP represented Array in the acquisition, while APA Solar was advised by Rupp Hagans & Bohmer LLP and Eastman & Smith.
Array’s legal team was led by an expansive roster of corporate, tax, capital markets, and compensation specialists, including Zach Savrick, Rhett Van Syoc, Mark Dundon, and Stephen Jacobson, among others.
