Unirac, a manufacturer of solar photovoltaic mounting systems in North America, has acquired assets related to Terrasmart’s solar racking business from Gibraltar Industries for $5 million.

Terrasmart provides ground-mounted, tracker, and canopy systems for commercial, industrial, and distributed-generation solar projects in the U.S.

The acquisition expands Unirac’s platform beyond its core residential and commercial flat roof racking business. According to Unirac, the combined business will serve a broader range of solar mounting applications.

The transaction was completed on July 15, 2026, and is subject to customary post-closing adjustments. Gibraltar said the sale completes the divestiture of its Renewables business. The sale was the second part of Gibraltar’s two-step process to divest its Renewables business.

“This acquisition is a natural extension of our DG platform,” said 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 challenging ground conditions. We are excited to welcome the talented Terrasmart team to Unirac and look forward to what we will build together.”

In February 2026, Gibraltar sold the electrical balance-of-systems portion of the business to a subsidiary of GameChange Energy Technologies for $70 million in cash. The company said it intends to use the proceeds from both the electrical balance-of-systems and the racking-and-foundations transactions to reduce debt.

Gibraltar classified the Renewables business as held for sale and began reporting it under discontinued operations in its consolidated financial statements effective June 30, 2025.

Weil, Gotshal & Manges served as lead legal counsel to Unirac, and Koley Jessen also provided legal counsel. Perella Weinberg Partners served as financial adviser to Gibraltar, and Polsinelli served as its legal counsel.

According to Mercom’s recently released Q1 2026 Solar Funding and M&A report, Corporate M&A activity in the solar sector was 47% higher YoY in the first quarter of 2026, with 28 corporate M&A transactions compared to 19 in Q1 2025.

In June, Nextpower, an integrated provider of utility-scale solar infrastructure solutions offering trackers, electrical balance-of-system solutions, software, and robotics, entered into a definitive agreement to acquire Germany-based Zimmermann PV-Steel Group.