Solar Integrated Roofing Corp. (OTC PINK: SIRC) Closes Acquisition Of Future Home Power, A Fast-Growing Solar And Battery Storage Sales Company, And Anticipates Its Rapid Growth Scaling To $1 Million Weekly Volume At High Margin Revenue And 45% Gross Margins “As Early As Next Month”

Solar Integrated Roofing Corp. (OTC PINK: SIRC) announces today (June 9, 2021) it has closed on its acquisition of fast-growing Future Home Power, a San Diego-based solar and battery storage sales company. SIRC says Future Home Power is capable of “rapidly scaling” to $1+ million weekly sales at 45%+ gross margins and David Massey, SIRC CEO, said that he expects the acquisition to be “immediately accretive” and incremental to SIRC. Massey added that Future Home Power was on track to reach 60 sales representatives by the end of May, with more growth planned after that.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

Solar Integrated Roofing Corp. (OTC PINK: SIRC) Closes Acquisition Of Future Home Power, A Fast-Growing Solar And Battery Storage Sales Company, And Anticipates Its Rapid Growth Scaling To $1 Million Weekly Volume At High Margin Revenue And 45% Gross Margins “As Early As Next Month”

The closing is the most recent in a series of green energy acquisitions by SIRC. Prior purchases include: Cornerstone Construction, Enerev LLC, Balance LLC, PLEMco and others. The result is that SIRC has announced preliminary 12 month revenue guidance of $100 million through May 31, 2022. Sales could be even higher if SIRC’s acquisition pipeline expands the company’s portfolio of brands in the future, the company said.

David Massey, SIRC CEO, said, “The additional workforce and lead generation capabilities will allow us to rapidly scale the acquisition to an estimated $1 million plus per week of sustainable, incremental sales as early as next month — for example, Future Home Power drove $1.4 million in the last week of May alone and is likely to reach $2.0 million in weekly revenue in the near-term.” He added, “The quick close of our acquisition of Future Home Power is timely for us, as they are on track to reach 60 sales representatives by the end of May, with further growth planned after that point.”

The company said Future Home Power has earned a strong reputation for providing customers a smooth, simple process for solar panel and battery storage consultation and installation. As it captures value across the full customer lifecycle, Future Home Power specializes in the sale of residential solar panels, roofing as well as battery storage — partnering with local installers, chiefly SIRC portfolio companies going forward to finalize on-site installation, the company said.

David Massey, CEO of SIRC, said, “The acquisition is expected to act as a major growth driver for our other subsidiaries for years to come, who can complete the on-site contracting work once the sale is complete, capturing the full lifecycle value of each customer. I look forward to working with Jason (Newby, the founder) and his growing team — integrating them into our business development arm to further ramp project flow for the entire SIRC family of companies.”

$1+ Million Per Week Scaling For Future Home Power

Massey said, “Management believes that Future Home Power can scale to a $1+ million per week sales flow, acting as a major revenue driver for other SIRC subsidiaries who can complete the on-site contracting work once the sale is complete.”

Massey added, “Future Home Power is a true up and comer in the solar and battery storage business — with $7 million in revenue since inception and projections an order of magnitude higher for 2021. Jason and his team have quickly earned a strong reputation for providing customers a smooth, simple process for solar panel and battery storage consultation and installation.”

Act As SIRC’s ‘Business Development Arm’

Massey added, “When paired with our robust suite of operating businesses, we believe Future Home Power can act as our business development arm, driving a robust project-flow for our installers working for the SIRC family of companies.”

Closing of any potential acquisition is subject to final due diligence, negotiation and execution of a definitive purchase agreement and all necessary approvals.

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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