Array Technologies, through its subsidiary STINorland USA, Inc., has entered into a definitive agreement to acquire Affordable Wire Management, LLC (AWM) for a total potential consideration of up to $203 million. AWM designs and manufactures wire management products for the utility-scale solar and battery storage industries.
Key Details
- Transaction Value: Total consideration of up to $203 million, consisting of a $153 million base purchase price, up to $10 million in deferred payments, and up to $40 million in performance-based earn-outs.
- Earn-Out Structure: The $40 million earn-out is contingent on AWM achieving specific EBITDA targets. It includes up to $8 million for FY2026 and up to $16 million for each of FY2027 and FY2028.
- Deferred Payments: The $10 million in deferred consideration is payable in two $5 million installments on the first and second anniversaries of the closing, contingent on the continued employment of key AWM personnel.
- Terms & Closing: The agreement was signed on July 16, 2026. The transaction is subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Act.