#Cleantech #Stock News: Solar Integrated Roofing (OTC:
$SIRC) Reports 7 Acquisitions Projecting Over $78 Million in Annual Revenue;
@SIRCStock
EL CAJON, CA /
January 19, 2022 / Solar stock news from Investorideas.com Newswire and RenewableEnergyStocks.com
- Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single-source solar power,
roofing systems installation and EV charging company, today announced that it
has signed a series of binding Letters of Intent (LOIs) as part of its planned
acquisition of seven companies, adding an anticipated $78 million in
incremental annual revenue.
Read this news, featuring SIRC in full
at https://www.investorideas.com/news/2022/renewable-energy/01191SIRC-7-Acquisitions.asp
Management plans to integrate the following
seven firms into the SIRC family of companies:
1.
Storm Ventures Group ("SVG"), a respected
industry contractor consulting firm
2.
Standard
Eco, a licensed
engineering, procurement and construction (EPC) solar provider with a presence
spanning five states and over 4,000 solar installations
3.
Eco Management, a licensed EPC solar provider with a
presence spanning four states and over 2,000 solar installations
4.
BVI
Solar,
a California licensed roofer and solar contractor which has been party to over
1,000 solar installations – founded by an early pioneer of the solar roof
concept, which later became the CertainTeed Apollo II Solar Shingle
5.
Bel Aire Construction and Development, an established
property development firm to drive the development of green housing
developments, driving notable synergies across the SIRC family of companies
6.
Music City Roofing, a very highly-rated roofer in
Tennessee, with over 5,000 roofs replaced and over 3,400 roofs repaired since
inception – while furthering a charitable mission centered on giving back to
the local community
7.
Heartland Constructors, a licensed EPC and a premier west
Texas solar provider which has served as a lucrative referral source for SIRC –
referring a nationwide EV charging station contract spanning over 200 apartment
complexes as well as several high-value solar projects
“This extremely exciting series of planned
acquisitions represent a significant expansion of our business, growing our
revenue by an expected $78 million annually,” said David Massey, Chairman and
CEO of Solar Integrated Roofing Corp. “These acquisitions are a testament to
our focus on identifying exciting niche industries to leverage our vast network
and generate additional revenue through synergies and cross-selling. Given our
planned transition to a more traditional December 31st year-end, we
don’t anticipate these acquisitions will have any adverse effects on our plan
to uplist to the OTCQX by mid-March, following a successful near-term uplist to
OTCQB.
“These all-cash, no-dilution planned
acquisitions are made possible through our strong relationship with Arbiter
Bank, who has served as a valued financing source – enabling our mutual growth.
We anticipate that these acquisitions, given the inherent synergies from being
part of the SIRC family of companies, have the potential to pay for themselves
within two years. I am incredibly proud of our team’s ability to find
attractively priced companies, efficiently integrate them into our corporate
structure and drive sale and operating synergies firm wide. This has proven
instrumental to our ability to create sustainable, long-term value for all
stakeholders.
“We eagerly await our Discord Q&A session
with shareholders this afternoon – interested investors can learn how to join
by clicking here. I will be
joined by special guest Darin Pastor from Arbiter Capital at 4:00pm Pacific
time today. I look forward to continued operational execution in the coming
year, striving to create a clear national leader in the solar power, EV
charging and roofing sectors,” concluded Massey.
Pablo Diaz, CEO of USA Solar Networks and
President of Solar Integrated Roofing, added: “Reflecting on my experience as
the CEO of a Company acquired by SIRC, I am thrilled to welcome these seven
companies – each clear thought leaders in their respective fields – to the SIRC
family of companies. Our revenue increased by several fold since joining SIRC,
which was made possible through the countless synergies, deep resources,
technology and incredible corporate infrastructure that SIRC has to offer.
Looking back, joining SIRC was the best business decision I have made in my
life. I look forward to working closely with each of the acquired companies to
help them spread their wings and reach their full potential, creating value for
our shareholders.”
Closing of any potential acquisition is
subject to final due diligence, negotiation and execution of a definitive
purchase agreement and all necessary approvals. The seven aforementioned
planned acquisitions are being purchased for an aggregate $21.6 million in cash
proceeds, with no new shares issued and no dilution taking place.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC:SIRC), is
an integrated, single-source solar power and roofing systems installation
platform company specializing in commercial and residential properties
throughout the United States. The Company serves communities by delivering the
best experience through constant innovation & legacy-focused leadership.
The Company's broad array of solutions include sales and installation of
solar energy systems, battery backup and electric vehicle (EV) charging
stations to roofing, HVAC and related electrical contracting work. For more
information, please visit the Company's website at www.solarintegratedroofing.com or join us on Twitter, Facebook or Discord.
Forward-Looking Statements
Any statements made in this press release
which are not historical facts contain certain forward-looking statements; as
such term is defined in the Private Security Litigation Reform Act of 1995,
concerning potential developments affecting the business, prospects, financial
condition and other aspects of the company to which this release pertains. The actual
results of the specific items described in this release, and the company's
operations generally, may differ materially from what is projected in such
forward-looking statements. Although such statements are based upon the best
judgments of management of the company as of the date of this release,
significant deviations in magnitude, timing and other factors may result from
business risks and uncertainties including, without limitation, the company's
dependence on third parties, general market and economic conditions, technical
factors, the availability of outside capital, receipt of revenues and other
factors, many of which are beyond the control of the company. The company
disclaims any obligation to update the information contained in any forward-looking
statement. This press release shall not be deemed a general solicitation.
Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ North America
Main: 949-259-4987
SIRC@mzgroup.us
www.mzgroup.us
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