ARRAY Technologies, a provider of solar tracking technology and fixed-tilt products and foundation solutions, has entered into a definitive agreement to acquire Affordable Wire Management (AWM) for total potential consideration of $203 million.

AWM is a company that supplies wire management, cable protection, and balance-of-system products for utility-scale solar and energy storage projects.

The transaction includes a base purchase price of $153 million and up to $50 million in additional consideration.

Of the additional consideration, $10 million will be payable in two equal installments on the first and second anniversaries of the transaction’s closing. Each installment will depend on the sellers’ continued employment.

ARRAY may pay for both components of the additional consideration in cash or common stock.

The acquisition helps ARRAY to expand its utility-scale solar product portfolio and provide access to battery energy storage and data center markets.

“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 G. Hostetler, Chief Executive Officer of ARRAY. “AWM brings a proven, innovative product line and a strong reputation for quality and customer service. Together, we will be able to offer a more complete, integrated solution to our customers across the solar, battery storage, and datacenter markets.”

According to ARRAY, the total potential consideration represents approximately 8.8 times AWM’s trailing 12-month earnings before interest, taxes, depreciation, and amortization.

According to Mercom’s recently released Q1 2026 Solar Funding and M&A report, Corporate M&A activity in the solar sector was 47% higher YoY, with 28 transactions compared to 19 in Q1 2025.

Previously, in May 2026, Skycorp Solar Group, a manufacturer of solar cables and solar connectors, signed a share acquisition agreement to acquire the remaining 56% equity interest in Nanjing Cesun Power, a provider of turnkey solar project services.