#Solar #Stock News - Solar Integrated Roofing (OTC:
$SIRC) Announces Acquisition of USA Solar Network-Concluding Near-Term Rollup Efforts; @SIRCStock
Adding the Missing Piece
to the Puzzle: #Solar Energy and #EV Charging #Infrastructure Developer to Join
the SIRC Family of Companies, Adding $50 Million per Year in Incremental Sales
as Early as 2022
Company to Prioritize
Driving Organic Growth and Profitability over Acquisitions in Near-Future
EL
CAJON, CA / July 13, 2021 / Solar stock news from Investorideas.com
Newswire
and RenewableEnergyStocks.com - Solar
Integrated Roofing Corp. (OTC: SIRC),
an integrated, single-source solar power
and roofing systems installation company, today announced that it has signed a
purchase agreement to acquire USA Solar Network LLC
(“USA Solar Network”), a solar energy and EV charging infrastructure developer.
Read
this news, featuring SIRC in full at https://www.investorideas.com/news/2021/renewable-energy/07131SIRC-USA-Solar-Network.asp
Founded
and led by CEO Pablo Diaz, recipient of the 2020 Top 20
Dynamic CEO Award, USA Solar Network helps
customers to install the best available solar energy or EV charging system by
comparing hundreds of local installers and financing options. Pablo’s
leadership has generated over $40 million in revenue since 2018, and quickly
scaled into over 37 states including key markets such as Florida, Texas,
Illinois, Arizona, Missouri and New Mexico.
Solar
Integrated Roofing believes the synergy with USA Solar Network will allow it to
scale rapidly and achieve 50-100% growth in incremental residential and
commercial sales with 16%+ gross margins in 2022. The acquisition is expected
to act as a notable growth driver for solar and EV charger installers within
the SIRC family of companies who can complete the on-site contracting work once
the sale is complete through USA Solar Network, capturing the full lifecycle
value of each customer.
Caption:
Leveraging this new network, the SIRC family of companies can now service all
pictured markets.
"USA
Solar Network has a footprint in exciting new markets that will continue to
broaden our national reach– the missing piece to the puzzle, allowing us to expand
to new markets nationally with minimal cost using their existing network
spanning solar and EV installation," said David Massey, Chief Executive
Officer of Solar Integrated Roofing Corporation. "Pablo and his team have
built strong regional partnerships with key industry players in the solar and
EV charger space, with over 7,000 solar projects completed to-date. We believe
the timing of this acquisition is perfect as well given the strong demand
growth we are seeing for EV charging installations nationally.
“Given
the Company’s ability to service both residential and commercial markets, we
believe we can efficiently integrate USA Solar Network into the SIRC family of
companies and further improve its growth trajectory, while concurrently
addressing exciting EV charging network opportunities with various levels of
government, leveraging their contractor network to expand without additional
costs.
“We
believe that this may be our last acquisition in the foreseeable future before
focusing inwards on organic growth and reaching cash flow breakeven – a
monumental step for the company and its shareholders which we believe will
significantly reduce any dilution and grow the company to profitability,”
concluded Massey.
About USA
Solar Network
USA
Solar Network is a solar energy
developer, helping customers to install the best available solar energy system
for any building residential or commercial. Its multiple divisions focus on the
following fields in the solar industry: residential solar, commercial solar,
finance in the commercial solar space, and solar licensed installations. The
Company’s vast network of sales companies, dealers and installation partners
amount to an over 100+ strong network, covering a marketplace of over 37
states. To
learn more, please visit http://usasolarnetworks.com/.
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.
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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