Solar Integrated Roofing, Inc. Acquires Milholland Electric, Inc. Company Now on a +$25 Million Run-Rate in Revenues
January 30 2020 - 06:00AM
InvestorsHub NewsWire
Solar Integrated Roofing, Inc.
Acquires Milholland
Electric, Inc.
Company Now on
a +$25 Million
Run-Rate in Revenues
POWAY, CA
-- January 30, 2020 -- InvestorsHub
NewsWire -- Solar Integrated Roofing
Corporation (OTCPINK:
SIRC), an integrated solar and
roofing installation company, announced today that it
has closed
the acquisition of
Milholland
Electric,
Inc. The
company is now on a +$25 million run-rate in
revenues.
David Massey, CEO of SIRC,
said, "we have been very busy executing on a number of items
according to our business plan. One of the major items on our plan
was to close the Milholland acquisition. I can't stress the
importance of not only closing this acquisition,
but
of
having Brian
Milholland be a part of this company as
an
important leader of our
team. He
is the "solar guru" in the Southern California
markets."
Massey continued,
"we have executed the following items in our business plan
which bring our
revenues to a +$25 million
run-rate:
1 - Closed Milholland acquisition
(currently generating approximately $10 million in
revenues).
2 - Closed SRS acquisition
(currently generating approximately $5 million in
revenues).
3 - Closed McKay
Roofing
acquisition
(currently generating approximately $5 million in
revenues).
4 - Closed Montross Roofing
acquisition (currently generating approximately $2 million in
revenues).
5 - Closed Narrate acquisition
(Pro forma
revenues of approximately $4
million for Fiscal
2021).
We are integrating all of
these acquisitions and cross selling our solar and roofing
solutions, thus, generating a margin increase of approximately
15%-25% in revenues across the board."
Finally, Massey
said, "while this integration process takes shape, we will continue
to look for acquisitions which are accretive to our bottom and top
lines. We are building something here. Something bigger than any
one person. We are building a company that we can all be proud of,
especially our shareholders."
About Solar Integrated Roofing
Corporation
Solar Integrated
Roofing Corporation is
an integrated solar and roofing installation company specializing
in commercial and residential properties with a focus on
acquisitions of like companies to build a footprint nationally. For
more information, please visit: www.solarintegratedroofingcorp.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.
Contact:
Marlena
LeBrun
760-566-9116
marlenalebrun@gmail.com
https://www.facebook.com/secureroofingandsolar/
https://www.linkedin.com/company/sirc-stock/about/
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