Leading North American manufacturer of solar mounting systems, Unirac, has acquired the assets of Terrasmart, a provider of ground mount and canopy solutions for the commercial and industrial (C&I) and distributed generation solar markets, from Gibraltar Industries.
The deal extends Unirac’s reach beyond its core residential and commercial flat roof racking business into ground mount, tracker, and canopy applications — giving the combined company a more complete product lineup across the full range of solar mounting needs.
Terrasmart brings a well-established customer base and a track record serving distributed generation projects across the United States.
“By bringing Unirac’s product development, supply chain, and engineering capabilities to Terrasmart, we can accelerate innovation, improve delivery, and give our customers a more complete solution set — from the rooftop to even the most difficult ground conditions,” said Peter Lorenz, CEO of Unirac, in a statement. “We are excited to welcome the talented Terrasmart team to Unirac and look forward to what we will build together.”
Key members of the Terrasmart team have joined Unirac as part of the transaction.
Unirac has been manufacturing solar mounting systems for more than 25 years and has more than 25 gigawatts (GW) of installation experience across more than 2.5 million projects.
Weil, Gotshal & Manges and Koley Jessen provided legal counsel to Unirac on the transaction. Perella Weinberg Partners advised Gibraltar Industries as financial advisor, with Polsinelli serving as its legal counsel.
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