US-based Gibraltar sells Terrasmart racking business to Unirac for $5 million

en.Wedoany.com Reported - Gibraltar Industries is gradually exiting the renewable energy sector, selling its solar racking and foundation business Terrasmart to competitor Unirac for $5 million. Terrasmart is a turnkey solar structure and installation company that produces racking and foundations for ground-mounted solar systems, including ground screws for complex soil conditions, fixed-tilt racking, and single-axis solar trackers.

According to a filing with the U.S. Securities and Exchange Commission, the transaction transfers Terrasmart's racking and foundation business to Unirac, which manufactures solar racking and mounts for rooftop and ground-mounted applications. Unirac CEO Peter Lorenz stated that this acquisition is a natural extension of its distributed generation (DG) platform, noting that Terrasmart has built a strong reputation and loyal customer base in ground-mounted, tracker, and canopy solutions. By integrating Unirac's product development, supply chain, and engineering capabilities, the company can accelerate innovation, improve delivery, and provide customers with more complete solutions ranging from rooftops to complex ground conditions.

In February, Gibraltar sold Terrasmart's electrical balance of system (eBOS) technology and business to solar tracker manufacturer GameChange Energy for $70 million. The eBOS product line includes combiner boxes and wiring products, all manufactured at a facility in Grand Rapids, Michigan. Additionally, Terrasmart manufactures solar structures and foundations at two plants in Columbus and Cincinnati, Ohio. Gibraltar Chairman and CEO Bill Bosway previously stated that divesting the eBOS business was the first step in a two-step process aimed at aligning the renewable energy business with industry leaders that continue to expand their product portfolios.