Solar Integrated Roofing Corp. (OTC PINK: SIRC) Completes Acquisition Of Cornerstone Construction Of South Carolina, Goes National As Solar And Roofing Provider And Sees A ‘Robust Pipeline’ For More Acquisitions
Solar Integrated Roofing Corp. (OTC PINK: SIRC) today, Thursday, February 25, 2021, completes the acquisition of Cornerstone Construction of South Carolina, going national as a solar and roofing provider and seeing a ‘robust pipeline’ for more acquisitions. Cornerstone, with HQ in South Carolina, also has operations in Charlotte, N.C., Charleston, S.C., Little Rock, Ar., Tulsa, Ok. and Foley, Al. SIRC has been on a clean energy acquisition spree, recently closing on its purchase of solar company Enerev LLC and signing a binding agreement to buy Pacific Lighting Management for its new EV Charging Station Solutions Division.
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) and Canadian Solar Inc. (NASDAQ: CSIQ).
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Completes Acquisition Of Cornerstone Construction Of South Carolina, Goes National As Solar And Roofing Provider And Sees A ‘Robust Pipeline’ For More Acquisitions
David Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), said,
“Cornerstone generated $15 million in sales for 2020, providing another level of scale to our operations. Cornerstone CEO and founder is Hunter Ballew is a true industry thought leader, having created a movement in the roofing and solar industry that helps tens of thousands of roofers & solar providers across the country every year through retreats, a mastermind and an annual conference, RoofCON. I strongly believe that with his network and our platform, we can build a robust pipeline of potential acquisitions nationwide.”
Massey added, “I would consider this to be a model acquisition and yet another example of how our roll-up model creates opportunities to deliver synergies by cross selling across our roofing and solar products. As we continue to grow our presence nationally, we will continuously seek out exciting new acquisitions such as this. I look forward to continued execution in the months ahead, helping to create long-term value for our shareholders.” Solar Integrated Roofing Corp. (OTC PINK: SIRC) Completes Acquisition Of Cornerstone Construction Of South Carolina, Goes National As Solar And Roofing Provider And Sees A ‘Robust Pipeline’ For More Acquisitions.
Learn more at https://cornerstoneconstruction.org and www.solarintegratedroofing.com.
Cornerstone Offers Multiple Services
Cornerstone operates throughout the southeastern United States, SIRC said. Its services include inspections, installations, repairs and replacement services as well as gutters, windows, siding and decking. It also designs and installs traditional solar and solar single arrays that integrate seamlessly into new and existing roofing systems, SIRC said. To learn more about Cornerstone, go to https://cornerstoneconstruction.org Solar Integrated Roofing Corp. (OTC PINK: SIRC) Completes Acquisition Of Cornerstone Construction Of South Carolina, Goes National As Solar And Roofing Provider And Sees A ‘Robust Pipeline’ For More Acquisitions.
SIRC Committed To Clean Energy Sectors
David Massey, CEO of SIRC, recently announced the Company signed a binding LOI to acquire a company for its new dedicated EV Charging Station Division, Pacific Lighting Management, Inc. SIRC said it is targeting the end of February for the close of the purchase for the company — which offers several long term (IDIQ-type) government contracts with the General Services Administration (GSA and GSA Fleet) Learn more at http://www.pacltg.com/ Solar Integrated Roofing Corp. (OTC PINK: SIRC) Completes Acquisition Of Cornerstone Construction Of South Carolina, Goes National As Solar And Roofing Provider And Sees A ‘Robust Pipeline’ For More Acquisitions.
SIRC recently closed on its purchase of another established clean energy solar installer, Enerev LLC. To learn more, go to https://www.enerevsolar.com/getting-started.
In addition to acquiring Enerev LLC and signing the binding letter of intent to buy Pacific Lighting for its new EV solutions division, SIRC entered a new alliance with San Diego builders to enter the new home business in that market. It also reached agreement with Solectrac, Inc., an all-electric tractor developer and manufacturer located in Northern California. That company is now 24% owned by Ideanomics (NASDAQ: IDEX). and Solectrac is an applicant for a $500 million USTDA grant.
Solar Integrated Roofing Corp. (OTC PINK: SIRC), stock closed at $1.34 yesterday.
Goldman Small Cap Research Sees A Bright Future For SIRC Stock
Goldman Small Cap Research likes the SIRC M&A strategy, entry into adjacent sectors, past record performance and partnership/agreement with the EV developer of all-electric tractors, which is an applicant for a $500 million USTDA grant. Saying that SIRC is expanding volume both organically and with acquisition growth, it projects SIRC sales at $19.8 million for FY 2021 and $38.5 million In FY 2022.
SIRC itself forecasts a volume of $40 million for FY 2022 — slightly north of the $38.5 million projected for it that year by the new Goldman report. Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), projects that its fast-track growth will generate revenues of $20 million for the FY ending February 28, 2021, almost precisely the $19.8 million estimated by the initial report.
Source: Stock Market Press
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