Solar Integrated Roofing Corp. Announces Acquisition of USA Solar Network, Concluding Near-Term Rollup Efforts
- Add the missing piece to the puzzle: developer of solar energy and EV charging infrastructure will become part of the SIRC family of companies and will increase additional sales of 50 million US dollars per year as early as 2022
- Companies will prioritize promoting organic growth and profitability over acquisitions in the near future
EL CAJON, CA / ACCESSWIRE / July 13, 2021 / Solar Integrated Roofing Corp. (OTC: SIRC), an integrated solar power and rooftop installation company, today announced the signing of a purchase agreement to acquire USA Solar Network LLC (“USA Solar Network”), a solar company, a developer of energy and charging infrastructure for electric vehicles.
Founded and led by CEO Pablo Diaz, recipient of the Top 20 Dynamic CEO Award 2020, USA Solar Network helps its customers install the best solar or EV charging system available by comparing hundreds of local installers and financing options. Pablo’s leadership has generated over $ 40 million in revenue as of 2018 and has expanded rapidly into over 37 states, including key markets such as Florida, Texas, Illinois, Arizona, Missouri, and New Mexico.
Solar Integrated Roofing anticipates the synergy with USA Solar Network will enable rapid scale and 50-100% growth in incremental sales of residential and commercial real estate with gross margin greater than 16% in 2022. The acquisition is expected to be a notable growth driver for solar and EV charger installers within the SIRC family of companies who, once the sale is completed through the USA Solar Network, will be able to contract on-site to capture the full lifecycle value of each customer.
Caption: With this new network, the SIRC family of companies can now serve all of the markets shown.
“USA Solar Network has a presence in exciting new markets that will further expand our national reach – the missing piece of the puzzle that will allow us to enter new markets nationally at minimal cost by expanding their existing network, solar and EV installations include leverage, ”said David Massey, chief executive officer of Solar Integrated Roofing Corporation. “With over 7,000 solar projects completed, Pablo and his team have built strong regional partnerships with key industry players in the solar and EV chargers. We believe the timing of this acquisition is perfect given the strong demand growth we are experiencing.” for EV charging installations to be seen nationally.
“Given the company’s ability to serve both residential and commercial markets, we believe that we can efficiently integrate the USA Solar Network into the SIRC family of companies and further enhance its growth trajectory while working with various levels of government to create exciting charging opportunities for Tackle electric vehicles by expanding their contractor network at no additional cost.
“We believe this could be our last acquisition anytime soon before we focus on organic growth and hit cash flow breakeven – a monumental move for the company and its shareholders that we believe will significantly reduce any dilution and will bring the company to profit, ”concluded Massey.
Via USA Solar Network
USA Solar Network is a solar energy developer helping its customers install the best available solar energy system for any residential or commercial building. Its multiple businesses focus on the following areas of the solar industry: residential solar, commercial solar, commercial solar finance, and solar licensing. The company’s huge network of sales companies, dealers and installation partners encompasses over 100 strong networks that cover a market in over 37 countries. To learn more, please visit http://usasolarnetworks.com/.
About Solar Integrated Roofing Corp.
Solar Integrated Roofing Corp. (OTC: SIRC) is a one-stop, integrated solar power and rooftop installation platform that specializes in commercial and residential real estate in the United States. The company serves communities by delivering the best experience through constant innovation and heritage-centered leadership. The company’s wide range of solutions range from selling and installing solar energy systems, battery backup and charging stations for electric vehicles (EV) to roofing, HVAC and related electrical contracting work. For more information, please visit the company’s website at www.solarintegratedroofing.com.
All statements made in this press release that are not historical facts contain certain forward-looking statements; as that term is defined in the Private Security Litigation Reform Act of 1995 and affects potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release relates. Actual results on the specific points described in this press release, and the company’s business in general, could differ materially from those projected in such forward-looking statements. While such statements are based on the best estimates of the company’s management as of the date of this release, material differences in size, timing and other factors could result from business risks and uncertainties, including, but not limited to, the company’s dependence on third parties, general market and other factors Economic conditions, technical factors, the availability of debt capital, revenue, 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 statements. This press release is not a general solicitation.
Investor Relations contact:
Lucas A. Zimmermann
MZ North America
SOURCE: Solar Integrated Roof Corp.
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