Array Technologies, Inc.
Have updates for this profile? Please contribute data
= Subscriber Access Only
You are viewing a preview of this profile. Request a Preqin Pro demo for full access to all profiles and underlying data.
With Preqin Pro, you gain an unobstructed view of all alternative asset class activity across institutional investors, fund managers, funds, portfolio companies, deals, exits, and service providers.
Array Technologies, Inc. - overview
Established
1986
Location
Albuquerque, NM, US
Primary Industry
Industrial Machinery
About
Based in New Mexico, US, and founded in 1986 by Ron Corio, Array Technologies, Inc. operates as a technology company that offers tracker solutions and services for utility-scale solar energy projects. The company has supplied over 22 gigawatts to commercial and utility-scale solar projects globally. The firm also deploys its products in Italy, China, Korea, and Spain.
Array Technologies, Inc. was acquired by Oaktree Capital Management in 2016 and was listed on the Nasdaq Global Market under the ticker symbol ARRY in 2020. Blackstone Energy Partners agreed to acquire the company's perpetual preferred stock in 2021. As of November 2021, the firm is being led by Jim Fusaro, as its CEO, and employs 389 employees.
The firm designs and manufactures solar tracking equipment for utilities, small businesses, corporations, and homeowners. The company's solar power solution was designed for power production. The firm also offers engineering services to customize its solar trackers for each site’s special requirements and energy production and project management solutions which provide on-site support for commissioning and installation. Array Technologies, Inc.
generated USD 192. 1 million in revenue in the third quarter ended September 2021, and for the nine months ended September 2021, the revenue was USD 640. 7 million. Following its purchase agreement with Blackstone Energy Partners, Array Technologies, Inc.
plans to use the capital to strengthen its position in the solar industry, accelerate value creation for its shareholders, and further grow its business. Array Technologies, Inc. also intends to complete the acquisition of STI Norland (for EUR 570 million in cash and stock), within Q1, 2022 (the deal was announced in November 2021).
Current Investors
Blackstone Group
Primary Industry
Industrial Machinery
Sub Industries
Engineering, Power Generation Equipment & Services, Solar Power, Industrial Machinery
Website
www.arraytechinc.com/
Verticals
Manufacturing
Company Stage
Mature
Total Amount Raised
Subscriber access only
Array Technologies, Inc. - timeline of key events
Array Technologies, Inc. - financials
| Fiscal Year Ended | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 290,783,000 | 647,899,000 | 872,662,000 | 853,318,000 | 1,637,546,000 | - | - | - |
| % Revenue Growth (YoY) | - | 122.8% | 34.7% | (2.2%) | 91.9% | - | - | - |
| EBITDA (USD) | (32,756,000) | 110,725,000 | 126,052,000 | 16,241,000 | 89,783,000 | - | - | - |
| Operating Income (USD) | (61,206,000) | 83,409,000 | 95,212,000 | (24,741,000) | (18,133,000) | - | - | - |
| Operating Margin | (21.0%) | 12.9% | 10.9% | (2.9%) | (1.1%) | - | - | - |
| % EBITDA Margin | (11.3%) | 17.1% | 14.4% | 1.9% | 5.5% | - | - | - |
| NET Income (USD) | (60,764,000) | 39,745,000 | 59,073,000 | (50,403,000) | 4,432,000 | - | - | - |
| % Net Margin | (20.9%) | 6.1% | 6.8% | (5.9%) | 0.3% | - | - | - |
Array Technologies, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sale to Management | Completed | Array Technologies, Inc. | - | ||||||||
| Add-on, Trade Sale | Completed | Soluciones Tecnicas Integrales Norland, S.L. | - | ||||||||
| PIPE | Completed | Array Technologies, Inc. | - | ||||||||
| Private Placement/Follow on | Completed | Array Technologies, Inc. | - | ||||||||
| Private Placement/Follow on | Completed | Array Technologies, Inc. | - |
Displaying 1 - 5 of 8
Array Technologies, Inc. - employee data
Array Technologies, Inc. - key contacts
| Name | Position | Start Date | End Date | Vcard | Bio | ||
|---|---|---|---|---|---|---|---|
| President and Chief Executive Officer and Board Director | BM |
BM Board Member
Want to see more?
Request a demo for full access to this profile
Time to go Pro
Get Preqin Pro for unrestricted access to 600,000+ detailed profiles on fund managers, investors, funds, companies, and other alternative asset players. Unlock exclusive data on future plans, company financials, fundraising history, track records, and more.