Portland, Tenn.-based solar energy equipment supply company Shoals Technologies Group will merge with New Mexico-headquartered industry peer Array Technologies in a stock-for-stock transaction expect to close during the first quarter of 2027.

According to a press release, 2027 revenue for the combined company is estimated to be $2.2 billion to $2.4 billion, with adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) $410 million to $480 million.