Array Technologies said it will acquire Affordable Wire Management for about $203 million, adding a business that generated nearly $60 million in trailing 12-month revenue and expanding Array’s reach beyond solar tracking into wire management, cable protection, battery storage and datacenter infrastructure.
The deal values AWM at about 8.8 times trailing 12-month EBITDA, based on the company’s estimate. The purchase price is split into a $153 million base amount and as much as $50 million in additional consideration.
Of that additional amount, $10 million would be paid in two installments on the first and second anniversaries of closing, provided the sellers remain employed. Up to $40 million more would be tied to performance, with as much as $8 million based on 2026 results and up to $16 million for each of 2027 and 2028, depending on EBITDA targets. Array said the extra payments could be made in cash or stock at its option.
Array said the acquisition is expected to be high-single-digit accretive to adjusted EPS in the first year before synergies. The company expects to close the transaction in the third quarter of 2026.
AWM’s products are used to organize, secure and protect electrical wiring in utility-scale solar and energy storage projects. Array said the deal will broaden its balance-of-system portfolio and create new growth opportunities in battery energy storage and datacenter markets.
Following closing, AWM’s results will be reported in Array’s legacy segment, and AWM’s senior management team is expected to stay on. As a result of these announcements, the company's shares have moved -2.64% on the market, and are now trading at a price of $6.085. For the full picture, make sure to review Array Technologies's 8-K report.
