Solar Integrated Roofing (SIRC), an integrated, single-source solar power and roofing systems installation platform company that specializes in commercial and residential properties in the US, offers an array of solutions including sales and installation of solar energy systems, battery backup and electric vehicle (EV) charging stations, roofing, HVAC and related electrical contracting work. Today the company announced that it plans to acquire the following seven companies, adding an anticipated $78 million in incremental annual revenue.
1. Storm Ventures Group, a 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 that has been party to over 1,000 solar installations.
5. Bel Aire Construction and Development, a property development firm to drive the development of green housing developments.
6. Music City Roofing, a Tennessee-based roofer, with over 5,000 roofs replaced and over 3,400 roofs repaired, while furthering a charitable mission centered on giving back to the local community.
7. Heartland Constructors, a licensed EPC and a west Texas solar provider that has served as a referral source for SIRC, referring a nationwide EV charging station contract spanning over 200 apartment complexes as wellas several high-value solar projects.
“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,” said David Massey, Chairman and CEO of Solar Integrated Roofing Corp.
The company will hold a Discord Q&A session with shareholders at 4 p.m. Pacific time this afternoon.
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.
In December, SIRC submitted its application for a listing on the OTCQB Venture Market.
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