# Shoals and Array Technologies Announce Strategic Merger Plan Solar industry leaders combine to form a comprehensive one-stop shop for energy components. - **Source:** [pv magazine](https://www.pv-magazine.com) - **Published:** 2026-11-04 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/2bbb2fde-2424-4d8d-bfb2-d9f1faa10903 ## Consolidating Solar Market Leaders Shoals Technologies Group and Array Technologies have proposed a stock-for-stock merger to create a unified solar entity. This deal combines Shoals' electronic balance of system products with Array's tracker technology. Upon completion, Shoals shareholders will hold approximately 65% of the combined company, while Array shareholders will retain the remaining 35% stake. ## Financial Projections and Structure The companies forecast combined annual revenue between 2.2 billion and 2.4 billion dollars by 2027. Array will serve as the legal successor to avoid refinancing existing debt obligations. Shoals shares will be exchanged at a ratio of 1.6931 per Array share, with a new corporate name and ticker symbol pending announcement. ## Leadership and Strategic Roles Shoals CEO Brandon Moss is set to lead the combined entity, while current Array CEO Kevin Hostetler will transition into a special advisor role. The leadership team aims to leverage their existing customer bases to drive growth. Brad Forth, who currently chairs both boards, remains a central figure in this strategic integration. ## Cross-Selling Growth Opportunities CEO Brandon Moss identified a massive cross-selling opportunity, noting that only 20% of project volumes currently utilize products from both firms. The company estimates 2.5 billion dollars in incremental sales potential if they successfully integrate their full product suites. This strategy focuses on expanding international reach and developing comprehensive, pre-engineered solar kits. ## Technical and Operational Synergies The merger aims to integrate components earlier in the design phase, specifically through combined wire management and tracker systems. By coordinating mechanical and electrical layouts using digital design tools, the company expects to streamline project deployment. This technical alignment is intended to differentiate their offerings from competitors in the broader solar market. ## Optimizing Capital and Tax Assets The combined entity plans to repurchase 317.5 million dollars of preferred stock to eliminate priority payment obligations and preserve cash flow. Additionally, the company will utilize Shoals' 1.6 billion dollars in tax amortization and 237 million dollars in net operating losses. These financial maneuvers are designed to significantly reduce future taxable income. ## Timing and Market Rationale Although the merger concept has been discussed since before 2023, leadership believes the current timing is optimal due to strong order books. Both companies have recently launched new product developments that complement each other. The deal is expected to close in early 2027, pending necessary shareholder approvals and standard regulatory review processes. ## Industry Impact and Outlook This merger represents a significant consolidation within the solar balance of system sector. By creating a one-stop shop, the new entity aims to simplify procurement for developers and installers. The success of this integration will depend on the firm's ability to realize projected synergies and effectively scale its combined global operations. ## Sources covering this story - https://www.pv-magazine.com/2026/11/04/shoals-and-array-announce-merger-plan-in-bid-to-create-one-stop-shop/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._