The table below describes the material facilities owned or leased by Shoals Technologies Group, Inc.
−Removed: as of December 31, 2022:
−Removed: Location Status Square Feet Uses
+Added: as of February 2024:
+Added: Location Status Approximate Square Feet Uses
1400 Shoals Way, Portland, TN Owned 103,200 Office, manufacturing, warehousing and shipping
−Removed: 1035 Fred White Blvd., Portland, TN Owned 75,360 Office, manufacturing, warehousing and shipping
+Added: 1035 Fred White Blvd., Portland, TN Owned 75,360 Office, warehousing and shipping
109 Kirby Drive, Portland, TN Leased 219,767 Office, manufacturing, warehousing and shipping
215 Industrial Drive, Muscle Shoals, AL Owned 16,910 Office, manufacturing, warehousing and shipping
−Removed: 13370 Kirkham Way, Poway, CA Leased 21,761 Office, manufacturing, warehousing and shipping
−Removed: 13651 Danielson Street, Poway, CA Leased 15,411 Office, manufacturing, warehousing and shipping
+Added: 1500 Shoals Way, Portland, TN Leased 638,330 Office, manufacturing, warehousing and shipping
+Added: In February 2024, we announced the closing of our Poway, California facility as a result of a strategic assessment aimed at enhancing overall production and performance and at allowing for greater efficiency throughout our operations.
+Added: The closure is expected to be completed in May of 2024.
We believe that our existing properties are in good condition and are sufficient and suitable for the conduct of our business for the foreseeable future.
−Removed: To the extent our needs change as our business grows, we expect that additional space and facilities will be available.
+Added: Nevertheless, on February 21, 2024, we announced our intention to expand and consolidate our existing Tennessee-based manufacturing and distribution operations into a new, more than 600,000 square foot facility in Portland, Tennessee over the next five years, and on February 7, 2024, we entered into a lease agreement for the new facility.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.