The total consideration for the transaction is of US$203 million, representing an 8.8 multiple of AWM’s trailing twelve-month earnings before interest, taxes, depreciation, and amortisation (EBITDA), according to Array. The transaction consists of a base purchase price of US$153 million and additional consideration of up to US$50 million.

According to Array, the transaction is expected to close in the third quarter of 2026, subject to receipt of any required regulatory approvals and satisfaction of other customary closing conditions.

“The acquisition of AWM will further broaden our balance-of-system portfolio and deepen our relevance to our customers as well as create new growth vectors for us in the BESS and datacenter markets,” said Kevin Hostetler, CEO of Array. “AWM brings a proven, innovative product line and a strong reputation for quality and customer service.”

Following the closing of the acquisition, AWM’s financial results will be included in the ARRAY Legacy segment. AWM’s senior management team is expected to remain with the business following the closing.

Array’s acquisition of AWM continues the ongoing growth of tracker manufacturers, expanding their solutions portfolio beyond trackers and offering a full array of products that cover a solar system, and even entering the BESS field, as was the case with Nextpower’s acquisition of BESS system integrator Prevalon in May of this year.

In the case of Array, the company invested in robotics company Swap Robotics back in 2024 and last year it acquired US solar foundation and fixed-tilt racking firm APA Solar.

The growth of solar tracker manufacturers beyond the tracker sector has also been reflected in some companies in that field rebranding, such as Nextpower and GameChange.

Moreover, on top of diversifying their portfolio of solutions, the tracker companies also continue to update their own products. Last month, Array launched an enhanced version of its DuraTrack system that supports a two-row module format and also updated its OmniTrack trackers so it can rotate by up to two degrees.