In A One-Two Punch, Solar Integrated Roofing Corp. (OTC PINK: SIRC) Recently Announces A Q3 Fiscal 2022 964% Sales Jump And Now Seven New Acquisitions Seen Generating An Aggregate Of $78 Million In Annual Volume; David Massey, CEO, Announces Planned Transition To Traditional December 31 Year End
In a one-two punch, Solar Integrated Roofing Corp. (OTC PINK: SIRC) recently announces a 964% jump in its Q3 fiscal 2022 sales, and now announces (January 18, 2022) a series of seven acquisitions aggregating some $78 million in new annualized revenues. David Massey, chairman and CEO, said SIRC is planning to move to a traditional December 31st year-end so the transactions would not interfere with the Company’s planned application for an up list to the OTCQX exchange by mid-March, following a successful near-term up list to the OTCQB exchange.
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In A One-Two Punch, Solar Integrated Roofing Corp. (OTC PINK: SIRC) Recently Announces A Q3 Fiscal 2022 964% Sales Jump And Now Seven New Acquisitions Seen Generating An Aggregate Of $78 Million In Annual Volume; David Massey, CEO, Announces Planned Transition To Traditional December 31 Year End
Earlier, Solar Integrated Roofing Corp. (OTC PINK: SIRC) announced a Q3 fiscal 2022 964% record sales jump to $48.2 million from $4.5 million the comparable period the prior year. SIRC also sees itself ‘substantially exceeding’ its earlier forecast of $100 million revenue for the 12 months ended May 31, 2022. Its annual run rate is now approaching $200 Million, the Company said. David Massy, Chairman and CEO of SIRC, also announced that the company is changing its name to SolarEV and plans to change its ticker symbol to POWR.
Now, making even more news, SIRC announced it has signed seven LOIs for acquisitions anticipated to offer the Company a combined $78 million in incremental annualized revenue. The cost for all seven is $21.6 million in all-cash, non-dilutive deals, Massey said. In A One-Two Punch, Solar Integrated Roofing Corp. (OTC PINK: SIRC) Recently Announces A Q3 Fiscal 2022 964% Sales Jump And Now Seven New Acquisitions Seen Generating An Aggregate Of $78 Million In Annual Volume; David Massey, CEO, Announces Planned Transition To Traditional December 31 Year End.
“These all-cash, no-dilution planned acquisitions are made possible through our strong relationship with Arbiter Bank, who has served as a valued financing source — enabling our mutual growth. We anticipate that these acquisitions, given the inherent synergies from being part of the SIRC family or companies, have the potential to pay for themselves within two years.”
He added, ”This extremely exciting series of planned acquisitions represent a significant expansion of our business, growing our revenue by an expected $78 million annually. 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.”
Pablo Diaz, CEO of USA Solar Networks and President of SIRC, said, “I look forward to working closely with each of the acquired companies to help them spread their wings and reach their full potential, creating value for our shareholders.” In A One-Two Punch, Solar Integrated Roofing Corp. (OTC PINK: SIRC) Recently Announces A Q3 Fiscal 2022 964% Sales Jump And Now Seven New Acquisitions Seen Generating An Aggregate Of $78 Million In Annual Volume; David Massey, CEO, Announces Planned Transition To Traditional December 31 Year End.
SIRC earlier had reached a $42 million equity purchase agreement with Arbiter Capital LLC. It was to be used for share buybacks, acquisitions and to invest in continued organic growth, SIRC had announced.
The acquisitions are subject to final due diligence, negotiation and execution of a definitive purchase agreement and all necessary approvals.
The Companies are:
- Storm Ventures Group (SVG), an industry consulting firm.
- Standard Eco, a licensed, engineering procurement and construction (EPC) solar provider with a presence in five states and more than 4,000 solar installations.
- Eco Management, a licensed EPC solar provider with a presence in four states and more than 2,000 solar installations.
- BVI Solar, a California licensed roofer and solar contractor which has been party to more than 1,000 solar installations.
- Bel Aire Construction and Development , an established property development firm. It drives the development of green housing developments, driving notable synergies across the SIRC family of companies.
- Music City Roofing, a highly rated roofer in Tennessee, with more than 5,000 roofs replaced and more than 3,400 roofs repaired since inception. It has a charitable mission centered on giving back to the local community.
- Heartland Construction, a licensed EPC and a premier west Texas solar provider, which has prior served as a lucrative referral source for SIRC. It has referred an EV Charging Station contract spanning over 200 apartment complexes as well as several high-value solar projects.
In A One-Two Punch, Solar Integrated Roofing Corp. (OTC PINK: SIRC) Recently Announces A Q3 Fiscal 2022 964% Sales Jump And Now Seven New Acquisitions Seen Generating An Aggregate Of $78 Million In Annual Volume; David Massey, CEO, Announces Planned Transition To Traditional December 31 Year End
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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