More Solar Acquisitions: Solar Integrated (SIRC) Acquires Pablo Diaz's (from SING) USA Solar Network; Adds $50M/year for 2022
July 13 2021 - 8:15AM
InvestorsHub NewsWire
New York, NY -- July 13, 2021 -- InvestorsHub NewsWire -- via
Stock Market
Press -- Stock Market Press is a leading financial news company
that delivers up to date stock news. In today’s release, we discuss
Solar Integrated Roofing Corp’s (OTC PINK:SIRC) latest acquisition and growth
plans. Also mentioned Singlepoint, Inc. (OTC PINK:SING), Allied Energy Corp (OTC PINK:AGYP) and Video
River Networks (OTC
PINK:NIHK).
The past 2 years have been phenominal for Solar Integrated Roofing
Corp’s (OTC PINK:SIRC) as their acquisition phase puts
them on track to surpass $100M in revenues. Expanding the company
in almost all alternative energy sectors has positioned them to be
a true leader across the nation.
According to a report released by the International Renewable
Energy Agency, almost 11 million people globally work in the
renewable energy industry. Around 3.5 million of those employees
work for companies engaged in photovoltaics, the conversion of
solar power to electricity. Major growth is expected throughout the
next decade, pushing the industry to quadruple current
installations according to CNBC.
Singlepoint, Inc. (OTC PINK:SING) recently completed the spin off
of 1606 corp. Allied Energy Corp (OTC PINK:AGYP) ramps up
rework activity at two lease sites. Video River Networks (OTC
PINK:NIHK) reports revenues are up 34% as they prepare to
launch their electric vehicle operation.
Solar Integrated Roofing Corp’s (OTC PINK:SIRC) latest
news: Solar Integrated Roofing Corp. Announces Acquisition
of USA Solar Network, Concluding Near-Term Rollup Efforts
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 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.
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
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factors may result from business risks and uncertainties including,
without limitation, the company's dependence on third parties,
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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
Solar Integrated Roofing Corp’s (OTC PINK:SIRC) moving towards revenues and
profitability could see some increased institutional interest.
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