Filing Flows › Array Technologies (ARRY) › Takeover & LBO
Is Array Technologies (ARRY) a takeover target?
A leveraged buyout does not work for Array Technologies on its latest figures: it has no positive EBITDA to borrow against (−$29.4M over the last 12 months, on revenue of $1.2B). Historically 6.7% of companies with its figures were bought within a year (1.33× the average). Latest signal (2026-11-04): ARRAY Technologies and Shoals Technologies Group Announce Transformative Merger,.
Why a leveraged buyout does not fit
A leveraged buyout is paid for mostly with debt that the company's own cash flow repays. Array Technologies' EBITDA over the last 12 months was −$29.4M on revenue of $1.2B, so there is nothing to lend against and nothing to repay a loan with: a buyer would have to pay almost entirely with its own money. That is the kind of deal another company — a strategic buyer that wants the products, the pipeline or the technology — makes, not a private-equity fund. The model therefore gives no buyout price.
What a takeover could cost
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Array Technologies would cost about $4.41 a share, $686M for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 12% | $3.80 | $591M |
| Median | 30% | $4.41 | $686M |
| High end (a quarter paid more) | 31% | $4.44 | $691M |
The odds, from history
Historically 6.7% of companies with its figures were bought within a year (1.33× the average). Its figures put it in decile 9 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Rumors and deal signals
- 2026-11-04 · 8-K deal · ARRAY Technologies and Shoals Technologies Group Announce Transformative Merger,
Array Technologies' latest quarter
Array Technologies, Q3 2026: revenue $330M (-16% year over year), operating margin 4.2%, net earnings $8.2M, operating cash flow $4.6M. The chart follows the revenue to costs, profit and cash.
Questions
Is Array Technologies being acquired?
The latest signal on file is from 2026-11-04: ARRAY Technologies and Shoals Technologies Group Announce Transformative Merger,. A headline is not a deal; Filing Flows lists the news, 8-K filings and 13D filings about a sale.
Could private equity buy Array Technologies?
A leveraged buyout does not work for Array Technologies on its latest figures: it has no positive EBITDA to borrow against (−$29.4M over the last 12 months, on revenue of $1.2B). With no cash flow to repay a loan, a buyer would pay almost entirely with its own money: a deal for another company (a strategic buyer), not for a private-equity fund.
What would a takeover of Array Technologies cost?
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Array Technologies would cost about $4.41 a share, $686M for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.