Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hires Merchant Banking Firm To Introduce SIRC To Potential Acquisition Targets And Also To Accredited Inves-tors, Analysts And Broker-Dealers; SIRC Seeks To Raise Profile With International Monetary’s Network Of Investors
Solar Integrated Roofing Corp. (OTC PINK: SIRC) yesterday retained International Monetary (IM), a Merchant Banking and Strategic Advisory firm for two reasons. First, to introduce SIRC to its nationwide network of accredited investors, analysts and broker-dealers. Second, to help identify acquisition targets — companies that can be integrated into SIRC’s corporate structure.
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Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hires Merchant Banking Firm To Introduce SIRC To Potential Acquisition Targets And Also To Accredited Investors, Analysts And Broker-Dealers; SIRC Seeks To Raise Profile With International Monetary’s Network Of Investors
SIRC’s retention of IM is a strategic move by the company. David Massey, chairman and CEO, says, “IM will be a valuable partner as we move into 2022 as w continue our focus on identifying acquisitions to leverage our vast network and generate additional revenue through synergies and cross-selling. Our goal is to find healthy, attractively priced companies and efficiently integrate them into our corporate structure, and we believe IM will help us market our compelling growth story to their network of investors.”
M B. (Blaine) Riley III, managing director and president of IM, adds, “Solar Integrated Roofing’s rapid pace of acquisitions and growth make it an ideal client for IM, and we are excited to support the company in their journey with our experienced team.
“Through our strategic advisory arm, we will harness the power of a large network of accredited investors, institutions, funds, underwriters and lenders. We believe the Company’s prominent national brand and long list of accomplishments will continue to produce record revenue achievement, and we look forward to contributing to their continued expansion efforts.”
SIRC has continued to record significant financial gains. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hires Merchant Banking Firm To Introduce SIRC To Potential Acquisition Targets And Also To Accredited Investors, Analysts And Broker-Dealers; SIRC Seeks To Raise Profile With International Monetary’s Network Of Investors.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) reported 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 Massey, chairman and CEO, comments, “The third quarter of fiscal 20222 was highlighted by record revenue of $48.2 million, driven by seamless integration of our rapidly growing, high-margin acquisitions and our evolution into a truly national brand.
“The rapid pace of our acquisitions, partnerships and organic sales growth has enabled this incredible record revenue achievement, and we aim towards substantially exceeding our fairly conservative guidance for $100 million in revenue in the twelve months ended May 31, 2022.
“However, this is only a fraction of the run-rate I believe we can achieve by the end of this calendar year with significant sequential growth throughout CY 2022. It is impossible for me to overstate what a triumphant accomplishment this quarter represents, serving as both a milestone and a turning point in the company’s history,” he adds.
Massey also says SIRC intends to redouble its efforts to become an equally dominant, national player in the EV charging space, with an eye towards exponential, dual-industry growth and an improved focus on generating shareholder value.”
SIRC also posted net income for Q3 fiscal 2022 was $18.4 million compared to net loss of ($0.6 million) in Q3 for fiscal year 2021.
To improve profitability, the Company adopted a targeted program designed to achieve cost synergies across the SIRC family of companies. The program would achieve a shared corporate infrastructure to lower costs and improve operating efficiency.
Earlier, Massey of SIRC announced that the Company has applied to up list to the OTCQB exchange. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hires Merchant Banking Firm To Introduce SIRC To Potential Acquisition Targets And Also To Accredited Investors, Analysts And Broker-Dealers; SIRC Seeks To Raise Profile With International Monetary’s Network Of Investors.
He said, “Our application to up list to the OTCQB marks an important milestone for our Company and will help to build shareholder value along with our strong organic growth from our complementary solar, roofing and EV Charging brands.
He commented, “Joining the OTCQB raises our profile within the investment community, which we expect will help improve liquidity, broaden our shareholder base and position us for a NASDAQ up listing in the future,” he concluded.
Member companies must be current in their reporting and undergo an annual verification and management certification process. OTCQB standards provide a strong baseline of transparency plus the technology and regulation to improve the information and trading experience for investors.
Massey added, “We believe our recent acquisitions, rapid sales growth, and transformation into a national brand will accelerate this goal. In addition, trading on this established public market will help to generate exposure of our Company among institutional investors.”
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hires Merchant Banking Firm To Introduce SIRC To Potential Acquisition Targets And Also To Accredited Investors, Analysts And Broker-Dealers; SIRC Seeks To Raise Profile With International Monetary’s Network Of Investors
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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