Solar Integrated Roofing Corp. (OTC PINK: SIRC) Is Going National As It Signs A Binding LOI To Acquire Roofing And Solar Systems Installer Cornerstone Con-struction Of South Carolina; Cornerstone Operates In N.C., S.C., Ar., Okla. And Ala.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) announces today (Thursday, February 18, 2001) it is going national by signing a binding Letter Of Intent (LOI) to acquire multi-state roofing and solar systems installer, Cornerstone Construction, based in South Carolina with operations in Charlotte, N.C., Charleston, S.C., Little Rock, Ar., Tulsa, Ok. and Foley, Al. SIRC’s home base is in Southern California and it has been on an 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) Is Going National As It Signs A Binding LOI To Acquire Roofing And Solar Systems Installer Cornerstone Construction Of South Carolina; Cornerstone Operates In N.C., S.C., Ar., Okla. And Ala.
David Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), said, “This represents the first step in our company’s transition into a nationwide roofing and solar solutions provider. Throughout 2020, Cornerstone moved strategically into new markets…the Company completed over 1,000 installs of roofing and solar in 2020 generating over $15 million in sales with robust projected growth. Massey added, “This is an exciting presence that we believe will help grow our acquisition pipeline nationally, helping to create value for our shareholders.” Solar Integrated Roofing Corp. (OTC PINK: SIRC) Is Going National As It Signs A Binding LOI To Acquire Roofing And Solar Systems Installer Cornerstone Construction Of South Carolina; Cornerstone Operates In N.C., S.C., Ar., Okla. And Ala.
Cornerstone Offers Multiple Services
Cornerstone was founded in 2017 and 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. Cornerstone’s founder and CEO is Hunter Ballew.
Ballew said, “The Cornerstone team will bring our proprietary training program, Six Figure Blueprint, to the Solar Integrated Roofing family, along with other proprietary systems to create predictable growth while scaling quickly, improving efficiency, automating processes and increasing margins.” Solar Integrated Roofing Corp. (OTC PINK: SIRC) Is Going National As It Signs A Binding LOI To Acquire Roofing And Solar Systems Installer Cornerstone Construction Of South Carolina; Cornerstone Operates In N.C., S.C., Ar., Okla. And Ala. To learn more, go to https://cornerstoneconstruction.org
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). Its customers also include federal, state and local governments, school districts, hospitals and large commercial clients, the Company said. It is a cash-flow positive buy, SIRC said. It is based in Southern California, in Santa Ana. Learn more at http://www.pacltg.com/
He added, “Their strong relationships with government agencies, forged over 18 years of business, represent a unique, valuable opportunity for our growing portfolio of operating companies.” Pacific Lighting serves mainly government and large commercial clients. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Is Going National As It Signs A Binding LOI To Acquire Roofing Systems Installer Cornerstone Construction Of North Carolina; Cornerstone Operates In N.C., S.C., Ar., Okla. And Ala.
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.
SIRC Up List Seen By Management
Brian Milholland, SIRC president, recently told Money TV’s host Donald Baillargeon that David Massey, SIRC CEO, told him that SIRC was completing the financials necessary for an initial up list by the end of February or early March. As the Company is doing that, it is at the same time continuing to grow its formidable footprint in the clean energy sector. Solar Integrated Roofing Corp. (OTC PINK: SIRC), stock closed at $1.32 yesterday.
Goldman Small Cap Research Sees A Bright Future For SIRC Stock
Goldman Small Cap Research in a analysis report explained that SIRC’s stock still has a lot to gain in valuation metric. “Thus, we believe that these shares (SIRC) could trade north of $1.00 and beyond in 2021, especially as new companies are brought into the SIRC family,” it concluded. Goldman Small Cap Research in the January report tripled its price target for Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 for the next three-six months. But SIRC’s stock has already eclipsed that — trading at yesterday’s close at $1.32, after a prior whirlwind week of volatile stock valuation.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says It Will Reach $40 Million In FY 2022
Goldman 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.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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