Unirac has acquired the assets of Terrasmart from Gibraltar Industries for a reported $5 million.

Unirac is one of North America’s largest manufacturers of solar PV mounting systems. The Terrasmart brand is associated with a long-standing track record serving the ground-mount, tracker, and canopy segments of the DG market across the United States.

“This acquisition is a natural extension of our DG platform,” says Peter Lorenz, CEO of Unirac. “Terrasmart has earned a strong reputation and loyal customer base in ground mount, tracker, and canopy solutions. 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..”

The acquisition extends Unirac’s platform beyond its core residential and commercial flat roof racking business, positioning the combined company to serve customers across a broader range of solar mounting applications.

“I am proud of Terrasmart’s accomplishments under Gibraltar’s stewardship. Looking forward, I am incredibly excited to join Peter and the Unirac team,” says Terrasmart president Ed McKiernan, who alongside other key members of the Terrasmart team has joined Unirac. “Both Unirac and Terrasmart have strong legacies, built by delivering superior products and services to U.S. solar project customers for decades. Combining those legacies demonstrates our unwavering commitment to that marketplace and unlocks new avenues for customer value through broad product and service solutions, geographic reach and delivery execution.”

In connection with the transaction, Weil, Gotshal & Manges LLP served as lead legal counsel and Koley Jessen served as legal counsel to Unirac. Perella Weinberg Partners LP served as financial advisor to Gibraltar Industries, and Polsinelli PC served as its legal counsel.

Tags: carport/canopy, commercial and industrial, distributed energy, Gibraltar Industries, ground mount, mergers and acquisitions, racking system, solar canopy, Terrasmart, Unirac