Company Overview

Shoals Technologies Group, Inc. is a U.S.-based provider of electrical balance of system (EBOS) solutions primarily for the solar energy industry, with expanding exposure to energy storage and e-mobility infrastructure. The company designs, manufactures, and sells components that connect and protect solar panels and other energy assets to inverters and the electrical grid. Its offerings are positioned as highly engineered, plug‑and‑play systems intended to reduce installation labor, improve safety, and lower total system costs for customers.

The company’s primary revenue driver is the sale of EBOS components to utility-scale solar developers and engineering, procurement, and construction (EPC) firms, with a smaller but growing presence in commercial and industrial solar and storage projects. Shoals differentiates itself through proprietary designs, domestic manufacturing emphasis, and a solutions-based approach that shifts field labor to factory assembly. Founded in 1996, the business evolved from a regional electrical products supplier into a specialized solar infrastructure company, culminating in its public listing in 2021.

Business Operations

Shoals generates revenue through the design and sale of EBOS products, with its core operating segment focused on Solar EBOS Solutions. Key products include combiner boxes, junction boxes, wire harnesses, inline fuses, disconnects, and related monitoring and protection devices. These products are typically customized to project specifications and sold directly to large-scale solar developers and EPC contractors under contract-based arrangements.

Operations are primarily based in the United States, with manufacturing, assembly, and engineering functions supported by a mix of in-house facilities and strategic contract manufacturing. The company operates largely through its primary operating subsidiary, Shoals Technologies Group, LLC, and maintains long-standing relationships with major solar developers, inverter manufacturers, and EPC firms. While most revenue is generated domestically, Shoals supports international projects selectively through export sales and partner-led execution.

Strategic Position & Investments

Shoals’ strategy centers on expanding its role as a critical infrastructure provider for large-scale solar and adjacent energy markets. Growth initiatives include increasing content per project, expanding into energy storage EBOS, and developing solutions for electric vehicle charging infrastructure. The company also emphasizes design standardization and prefabrication to support faster project deployment and reduced installed costs for customers.

In terms of inorganic growth, Shoals has completed targeted acquisitions to enhance manufacturing capabilities and product breadth, most notably the acquisition of Big Lead Assembly, which expanded its domestic assembly capacity and vertical integration. The company continues to invest in product innovation, automation, and domestic manufacturing, aligning its strategy with U.S. grid modernization efforts and renewable energy policy incentives.

Geographic Footprint

Shoals is headquartered in Portland, Tennessee, and its operations are primarily concentrated in North America. The company maintains manufacturing, assembly, and engineering facilities in the United States, with additional production support through qualified international manufacturing partners. Its customer base is heavily weighted toward U.S. utility-scale solar projects, reflecting the scale and maturity of that market.

While international revenue represents a smaller portion of total sales, Shoals’ products are deployed in projects across Europe, Latin America, and other select global solar markets through exports and customer-led international development. The company’s geographic strategy prioritizes regions with large-scale solar deployment, stable regulatory frameworks, and long-term grid investment.

Leadership & Governance

Shoals is led by an executive team with experience in electrical manufacturing, renewable energy infrastructure, and industrial operations. Leadership emphasizes disciplined growth, operational efficiency, and long-term partnerships with customers, with a stated focus on safety, product reliability, and domestic manufacturing excellence.

Key executives include:

• Brandon Moss – Chief Executive Officer
• Michael Keegan – Chief Financial Officer
• Jim Barancik – Chief Operating Officer
• Ken Kermes – Chief Commercial Officer
• Kevin Hedlund – Chief Legal Officer and Secretary

The company operates under a board-led governance structure typical of publicly traded U.S. industrial technology firms, with oversight focused on risk management, capital allocation, and alignment with shareholder interests.